Forty years ago or so, we didn't know much about ways to adequately convert basement utility space to functional living space.

Make sure they give you an adequate and thorough scope of work before they begin.

A quick back of the napkin says this is a deal worth pursuing tho: 19 x $245 x 12 months = $55,860 less expenses of 40% (estimated) = $33,516 NOI which should be more than adequate to service the debt, plus do some upgrades to the park.

Visit with your agent about what level of coverage / protection is available, and what they might suggest as being adequate for the size of building you're referring to above. 

Make sure you have adequate identifiers to locate the party on records. 

It is all about not having adequate reserve funds.

Make sure sure you have adequate coverage. 

If you have an adequate insurance policy, is an LLC really necessary for flips?

._____ Tenant attests this specific service/assistance animal provides necessary service/assistance specific to Tenant’s disability.Name of animal: ______________________________________________________________________Description of animal: ___________________________________________________________________________________________________________________________________ (type, breed, color, age)Veterinarian: _________________________________________________________________________Emergency Caretaker: __________________________________________________________________Tenant agrees to:1.Provide proper care for the animal in accordance with veterinary recommendations or ASPCA (American Society for the Prevention of Cruelty to Animals) guidelines.See www.aspca.org.2.Not leave the animal unattended for any unreasonable periods of time.3.Adhere to local ordinances, including leash, vaccination, and tag/licensing, requirements.4.Clean up after the animal and dispose of animal waste properly and quickly.5.Not leave animal food or water outside the dwelling, as it could attract other animals.6.Keep the animal from being noisy, aggressive, or from causing any annoyance or discomfort to others.7.Immediately remedy any complaints that arise from animal behavior.8.Immediately pay for any damage, loss, or expense caused to others by the animal.9.Provide animal with regular health care, to include inoculations as recommended by a veterinarian.10.Spay or neuter the animal when it becomes of age to do so.11.Arrange for an emergency caretaker for the animal.12.Maintain adequate insurance to cover claims resulting from damages or injury caused by the animal.Tenant agrees to indemnify, hold harmless and defend Landlord against all liability, judgments, expenses (including attorney fees), or claims by third parties for any injury to any person or damage to property caused by Tenant’s animal.Landlord reserves the right to revoke permission to keep the animal should Tenant break this agreement or provide false or misleading information.Landlord ___________________________________________________Date __________Tenant______________________________________________________Date __________ -----------------

If potential problems have been considered and adequate reserves and insurance for risks which can be insured is in place that is one thing, but if not.....