Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

@Janine Sharma The decision to classify your onsite mobile home park property manager as a W-2 employee or a 1099 contractor depends on the degree of control you have over their work.

You’re on the right track—build awareness of costs where it directly impacts their role, but don’t overcomplicate the program with factors they can’t control.

If there was no appreciation, there is no need to do a 1031 exchange.I have never been a fan of condo's as you lose some control over the investment - You have no control over the monthly maintenance fees, you may not have control over who is on the board, you have no control over special assessments.I wish the investments turn out well for you!

No one is perfect though in RE if your doing volume your going to have a few that are bummers but at least in our program there is control.. not this feeling of helplessness when you hand your money over to a syndicate and they go dark your totally out of control of your funds..

This implies residential units can be built at lower costs and provide better return. 11) adding an ADU to SFH can make the SFH fall under rent control.

I do agree the lack of control is a potential issue.  

california has had statewide rent control on mf units for ~5 years.My experience with rent control is that in the near term rents increase more than without rent control.

- Value add - How much does it cost to convert Non-climate controlled units to climate controlled units? 

Besides all the benefits of real estate, I like the control I have, and I like the discounts on the purchase price, I'm able to get.