Throw in that you can dramatically increase the value of the property once you show consistent rent rolls much higher than when the space was used for LTR, and you have a big win. 

- The management company keeps track of finances and offers reports to the owners that are prepared for their accountants for tax filing.- The owner has full ownership and control of the property and can make all decisions such as when to sell, or may decide to operate the property according to their own wishes even if those wishes are against the recommendations of the property management company.

They might not be great for cash flow but might be great for long term capital appreciation especially when you use leverage.I’d rather own a $1M asset that breaks even but appreciates consistently by 3% than own a $100k asset that cash flows $3k per year.There’s power in investing in or near your backyard.  

If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button, and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

As described in the investor reports, significant amounts are being spent on renovations/improvements and acquiring additional mobile homes, which over time will increase the portfolio value significantly.  

Quote from @John Clark: Quote from @Chris Seveney: @Jay Hinrichs I believe Biden said the federal govt is going to pick up the bill for all the cleanup.from a lot of reports I read, most of the private insurance companies got out last year and state insurance is where many were insured.

To write off travel expenses incurred while looking for a property to invest in:Business License: Not needed.Deductible Expenses:Travel Costs: Yes, such as gas or airfare.Lodging: Yes.Meals: 50% deductible.Education Travel for Real Estate: Yes, 100% deductible.Important: All these expenses are deductible if you report rental income. 

That cost is for 17-18 piers - this was consistent between the 4 contractors we got bids form and we are waiting on a response from the engineer about how many he feels are necessary.  

These folks do not need to be licensed but there are limits on what they can and can't do, and they have to be salaried employees of the owner or report to a licensed property manager.

To me these accountability groups mean that I'll have someone to report back to about wins and fails to help with prospective and motivation.