The roles, responsibilities, contribution of time and money to the business etc could be outlined in an Operating Agreement if you form a new entity together.

Instead of buying your new property we as the QI form a holding entity called the Exchange Accommodating Title holder (EAT). 

The pro forma numbers are just that - numbers.

Now if you form a new corporation for each property purchased prior to getting the loan financed, how would the bank approve the loan without prior history on that specific new corporation?

Again, others might feel differently here.3) property level due diligence: (takes seconds to weeks per deal): here is where I drill in with the low-level details.a) pro forma popping: I examine all the assumptions, and see if they are overoptimistic or not.

I would do your best to form a good relationship with HOA presidents and members and see if there is any way to amend the bylaws for a very small percentage of units. 

A mobile home is not in any way shape or form a house.

@Aj EscomiendoIf you're not going to personally see the property, then you'll be reliant on others and they may be crooks or at best, just not have the same goals as you.So, you'll want to form a Tripod Team: Agent, Lender & Property Management Company (PMC).Agents & lenders are transaction based, so few of them will really "be there" for you if something goes wrong after a sale.

Use a pro forma.

If you’re investing in this style, build those numbers into your pro forma and plan for it in your renovation schedule.