If the income I made in 2020 was in the form of a w2 or if in 2019 the w2 income was paid to the LLC, I wouldn't be having this issue.

That creates two extremely important items that are intrinsic to mobile home parks:1 - when you sell homes to the residents, they begin to behave like a homeowner and tend to stay way longer than a renter would. 2 - you no longer have to do the maintenance and repairs on the homes, making the ongoing management much simpler and the costs much more stable.  

Terms and % down not what they used to be.  Have

Now, if you are still working on the unit, then you might have the issue of stuff being "missing" or "damaged", so you might have to restrict placement if belongings to areas that won't be having work done.

I will be visiting Memphis in a couple weeks and will be having a look around.

Aloha,Here is a link to the various forms and actual HAP contract that you will need to work with:https://www.hud.gov/program_of...The "guarantee" only lasts as long as the tenant behaves.

After 18yrs with the Buy & Hold, I've never needed "legal protection of my assets" - - behave correctly and play well with others and everything will be well.So my opinion is S-Corp / LLC is lawyer hype and another means to dip into your pocket book.Yeah, it's true - - if things when South and legal challenges DID arise, I could have been in trouble - - but it never materialized (at least for me).

Also, if a Tenant is behaving badly, a separate agreement for parking is generally (check your local laws) under the same rules as a Residence, which means you can terminate the parking with little or no notice if unpaid, or, just because you want to.

Pre-covid there were no issues, but post covid I think the closer you are to attractions the better.I'd wait for a few more answers, some might be having better luck.

We're fortunate to be have the Ohio house to help cushion us, you're right.