On the other hand, our house has a brand new roof, brand new hot water heater and recently renovated kitchen with newer appliances.

I am of immigrant household..... 1st and 2nd gen.....

Tenant responsibility for all appliances.

I am assuming you would be paying for materials and replacement appliances, etc... so $1000 per month for labor to take care of 5 mobile homes should be seriously looked at down the road.

If your household income is less than $150,000, you can save on taxes without a complicated strategy.

I've got a stainless whirlpool appliance package set to go in (no dishwasher due to space unfortunately).

But understand the type of risk could be the exiting tenant having poured cement down the drains, no appliances, no cabinets, a leaking roofs with mold inside the house, no AC,  or squatters having lived in the house with untold 'grossness' being left behind for you.  

The amount you can use for closing costs and rate buy downs is limited, so that leaves you with the majority of the credit for "upgrades," like finishing the landscaping, building a fence, installing sod, a sprinkler system, planting trees, buying appliances and installing blinds, etc. 

If you are living at home, contributing the household (eg paying your parents rent, paying for food) for a few years that may be fine. 

Natural cabinets with white appliances and a white Corian countertop.