Even after one year, that property may provide thousands of dollars worth of appreciation, you will pay down your loan and build some equity, and you can depreciate the asset. 

Connect with professionals who know what they are doing so you can receive proper guidance.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I'm having trouble getting the insurance provider I usually use for my SFH to give me a quote for a trailer park I'm interested in.

For people to get a better sense of what you accomplished feel free to provide more details.

I'll be sure to put in a disclaimer next time indicating that I'm not a CPA and they have to reach out to a tax professional to consult on the matter. 

These rates of return surpass what bank-provided bonds and stock dividends offer.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Found T&H realty services to be pretty interesting as they provide both buyer brokerage service (to help me find deals) as well as do property management i.e. they are not full turnkey provider necessarily, but reduces some of the hassle for me I guess as an out of state investor. 

Paying off rental mortgages increases monthly cash flow but reduces liquidity, while investing in hard money lending offers high returns but is taxed as ordinary income.Buying a multi-unit rental provides tax benefits like depreciation, while purchasing a business can yield strong profits but requires active management.