@Wendy Pattonyes, thank you for the additional information. 

When my daughter looked into tankless, they told her they could install it outside (couldn’t work out venting inside) but it would require additional maintenance, so they just went traditional.

If they do more damage you simply add it to the bill.

Refinancing can allow you to pull out equity, providing you with additional funds to use for the down payment on a new property.Look into financing options for purchasing a duplex.

CAP Rates can be a beautiful thing, they allow an investor to get a quick comparison of properties without digging too deep into the deal.When using CAP rates on MHPs I want to give a few warnings because there are additional variables to consider.

They haven't missed any payments last three months and requested to add additional roomates so that they can be on top of their paymentsI personally think 7 roomates in a 3bed 1ba is little too much for the apartment that also has a shared laundry with another apartment,not to forget the wear and tear with so many people.Should I continue with them if they are keeping the place generally in condition or ask them to find another place within next couple couple of months or so.Interested to hear thoughts from other experienced members here.Appreciate your inputs.Thanks

Additionally, I am looking to learn more about LLCs and weighing pros/cons. 

I'm hoping that less competition can help me grab a deal at a discount.

I'm still thinking if this is the right move for me given the high property taxes there, hassles of out-of-state management, additional CA taxes, as opposed to simply investing in index funds (which might have more returns).

Make sure they list you as a lender on their homeowners insurance policy, and not as an additional insured.