Convenience is vital, so think about if you could see yourself feeling at ease and comfortable on your vacation if you were going to be staying in the rental. 

Then you add some RV spaces (which is common in parks) and you have another layer of complexity. 

except in VERY specific and limited circumstances, running rental through an S corporation adds an additional layer of complications and MAY cause more taxation.  

I usually break it down like this:A good insurance policy is vital to cover the majority of a real estate investor's exposure.

By doing the land trust with LLC as beneficiary, am I still getting that extra layer of liability protection that an LLC supposedly provides?

They use an x-ray gun that goes through ALL layers of paint to the wood.

It's another unneeded layer of "taxation" and "regulation" that we don't want to deal with.

If I were you, I would consider bringing at least 30% to the table to give you that extra layer of protection.

Add $3,000 to my initial cost for roof replacement to tear off 3 layers of shingle and re-deck the entire thing.  

Margins in food are about 9 to 10% net after expenses so 500,000 sales you are looking at 45,000 to 50,000.The people that make any money tend to scale and own 30,40,50 or more of them where they can add in layers of management and no longer be the owner operators but still make good cash of 9 to 10%.