@Laura Newton this is the 2nd most common inquiry we get from our clients - because they DO NOT read the email we send them that explains the IRS requirement that a PMC is required to include GROSS amounts collected on behalf of an owner on the 1099-MISC.

I've been following this group and am impressed with the shared knowledge here.

Owner says rents are about $2-300 under what they could be but with the tenants being loyal and the way they are their own small community she recommends not raising rent.All 7 homes run off of 2 wells.Some differed maintenance but overall nice condition trailers range from 70s-80s model Owner says property manager/handy man lives next door and handles everything for her from maintenance to collecting and deposit rents.

When you say it is a 12% cap rate, does that include the rent collected from renting the mobile homes themselves?

Of course you can collect the income generated by your business.

You will be impressed at all the attention to detail.

I bought the deed under the impression the house was included on the parcel but come to find out, the house under another parcel number. 

Once they realized they could increase the taxes and the city trash collection on it they converted it with not so much as a notice to me.

I have properties in Fairfield, West end, East Lake, and others, and they can cash flow but the management is difficult (as in getting cash collected from tenants).

And when you do offer it to them, collect the full deposit within 24 hours.