I have never done a land trustWe have a living revocable trust that we set upHonestly I should have done it 15 years ago but did it like 6 years ago.I do not see the need for a land trust unless you are a politician, actor or athlete (someone who is famous).I have done business with multiple billionaires (not bragging but trying to make my point) including several that owned professional sports teams - and even they did not use land trusts…

It can be used as leverage for other ventures, including room rentals or as security for further loans.

Do they usually do a monthly flat rate (this would include the winter when its not needed)?

The purchase price is listed at $285K and that includes ownership of the land, laundromat, and shop. 

What is included in the rent? 

Dealing with nightmare sellers, including a dog left unattended for days, a break-in, and hidden foundation issues sounds like a real challenge.

Otherwise, I spend a few hours on bookkeeping each week, but that includes all my properties and business entities. 

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

Typically each chapter would have a housing board, that could include alumni.

Consider aspects including property location, market circumstances, financing arrangements, and long-term investment goals as you carefully study and assess your possibilities.