MHP has 57 spaces (of which 51 trailers are owned by the park), 100% occupancy, average rent is $500/month, city sewer/water, they pay all utilities, plus they pay the grass cutting bill.

Of course, real estate investing is not as cut and dried as this article would make it appear.

I’m considering switching my 3 SFR rentals over to strictly 2 year leases as turnover costs are cutting dramatically into my returns.

She then starts telling me how the previous owner was going to go half with her and all this jazz about cutting it down.....

This was pre internet days so immediate access to credit was not there Not the case I’m today’s world I guess the takeaway is always hire a good full time property manager upfront let them do what they get paid for and don’t cut corners Hiring a Realtor that is not a Property manager to find a tenant only and to save the monthly management fee Is Like going to the dentist and being told you need a route canal.

You're cash-flow negative so you take a giant cut with the $50K, 360 small $200/month cuts, and a big (or a ton more small) renovation cut.The big...big...BIG things you're missing are the net present value of money as well as the compounding profits. 

FIND THE HEIR AND CUT A DEAL THAT WAY!

I want to cut down costs all around the board but in return I get a less valuable vehicle and practically lose the down payment.

This may require increasing his income for a short time working extra and cutting back on non-essential lifestyle things or improvements to the property, which isn't his yet.

You could maybe cut your cabinetry expense in half (or more) by using Ikea boxes and custom fronts from someplace like SemiHandmade, and work with a GC that has worked with Ikea to make it look custom.