I use an SCorp, as it makes the most sense....protection with no double taxation.As for the equipment....rental cost are certainly higher than owning, IF they use that piece of equipment at least half of the time.  

-U&O are waaaay more lax than the suburbs-Low TaxesPhilly Cons-COMPETITION (like any metropolitian area)-Sloth bureaucracy (permit pulling, plan approval)-4.28% Transfer taxSuburbs Pros-School systems that sell homes, not blocks-Safety of your equipment/materials not getting stolen-less competition (unless you are by a university or the #1 school district)-Permits/inspections are handled on micro level, usually takes a fraction of the time as it does in Philly.

Personal Injury Protection:  libel, slander, wrongful entry, etc.Depending on the location, construction, etc. there may be other coverage that would be worth considering (water backup, equipment breakdown, etc.)

After you've gain the experience from the 1st purchase then you'll be much better equipped for the 2nd purchase.

You could find out the value of equipment (help him sell it) and perhaps pay that amount, which is basically the additional 10k you're thinking about.

I have also looked at ROBES plans (Roll Over to Business Start up)  and it was suggested to me that I could use this  to purchase homes (business short term rental, equipment needed is homes and others with homes).     

Equipped kitchen, yes.

If it comes off as angry to someone to tell them to do their diligence, then someone isn't really equipped to manage the harsh reality of the world.

Your Tenant still needs Renter's Insurance to cover their personal property, no matter if SFH or condo.You should also consider the individual coverages offered as options with your policy, such as sewer back-up, ordnance of law, loss of rent, and equipment breakdown (usually just for heating/cooling equipment).

That being said we do all our own maintenance and are equipped to move in and move out mobile homes as they wear out.