This will save you from losing out on revenue from people who want to stay longer. 

Probably lost about 2-3 months of rent trying to “save” on labor, when really the opportunity cost was probably more expensive when you add monthly holding costs + losing out on rent. 

This industry is the most regulated industry in the United States and having professional advise is a MUST or you can stand to lose it all.

@Ned CareyOkay, so you have seen many people WIN and many people lose?

However, it also depends what exactly those expenses are, e.g. unnecessary payroll would be something you should be able to correct (and if you lower it, you increase the value of the Facility); high flood insurance or excessive property taxes are what they are and typically cannot be reduced, very well throwing off the "industry standard".Typically we recommend buying a Facility as it is currently performing (past 12 months) and use a pro forma only for where you can realistically take it. 

I’ve looked up stocks and bonds but no direct information about how to invest properly without losing money?

I’ve looked up stocks and bonds but no direct information about how to invest properly without losing money?

Check out this article: https://www.biggerpockets.com/member-blogs/10776/72492-choosing-the-right-us-market-to-invest-in-the-4-step-guide-to-successAlso, you can make or lose a lot of money in any market.

I calculated roughly sending 800-900 per month after all expenses such as all utilities, PITI, repairs, etc.Is it worth losing a little money each month to live in a nice house that we actually own as opposed to renting?

Just keep in mind, whatever they do not have to pay for they will use to excess and you will have to pay in the long run.