Also make sure you are comfortable with some holding costs if the units don't get rented right away (if vacant).Also look into if there is rent control in the area that the property is located.

@Janine Sharma The decision to classify your onsite mobile home park property manager as a W-2 employee or a 1099 contractor depends on the degree of control you have over their work.

No one is perfect though in RE if your doing volume your going to have a few that are bummers but at least in our program there is control.. not this feeling of helplessness when you hand your money over to a syndicate and they go dark your totally out of control of your funds..

In my experience, late payers often become non payers; so, I stick with the practice above.

How do you really hold yourself or others accountable in practice?

There’s not much I can do to control the Bay Area real estate market, and our property has gone down in value since we purchased it.

I do agree the lack of control is a potential issue.  

Pressure to use affiliated servicesHidden fee structuresPROFESSIONAL BOUNDARIES ⚖️Good QIs maintain:Clear fee disclosuresWritten policiesProfessional distanceEthical guidelinesWATCH OUT FOR 👀QIs who:Push investment productsOffer tax or legal advice without credentialsSuggest "creative" solutionsPromise guaranteed returns on exchange fundsBEST PRACTICES FOR VETTING 📋Check multiple referencesVerify professional membershipsResearch online presenceReview complaint historyExamine years in businessINDEPENDENCE MATTERS!

If there was no appreciation, there is no need to do a 1031 exchange.I have never been a fan of condo's as you lose some control over the investment - You have no control over the monthly maintenance fees, you may not have control over who is on the board, you have no control over special assessments.I wish the investments turn out well for you!

I'm working on my first rental and trying to understand the best practices for how to use the template leases I can find.