If you know what you do and why you're doing it, there's no need for the bad and the ugly, which I personally haven't experienced.

This meant I couldn’t pursue the driver personally and had to rely on their car insurance, which settled for $25K—their maximum coverage.Unfortunately, the crash added $77K in unexpected costs, including $41K in repairs and extended holding costs.

So that helped.I personally wanted to be more conservative as I pretty much reach “the number” that I needed (note that what “I needed” is different from what “I wanted” or what I was expecting by default.)

Despite having photos available, many prospective tenants still prefer to see the unit in person to get a better sense of where they'll be staying. 

Big banks and credit unions will look at a full DTI(personal income) while others will just look at the cashflow of the property.

We have an LLC that holds real estate but have run into issues refinancing through the LLC when family is renting or ultimately living in the property so I’m also not sure if this should go through the LLC or be a personal purchase?

The adult child would not likely be able to afford to purchase in the neighborhood where the parents live.

You may not get the first property you offer on because if it looks good to you, you will probably have competition so start offering on properties that fit into your personal investment philosophy and meet your minimum financial requirements. 

Personally, I've been in the mobile home investing niche since 2007.

He's a terrible person.