It gives you a place to live, it lets you experience the buying process, the renting process, the maintenance issues, and depending upon how much work it needs it would let you experience the flipping aspect of things. 

We have several parks and if POH we do lease options with down payments to try to convert all our maintenance just to common areas.

He would provide 100% of the financing (through his bank at a low interest rate) and I would provide the oversight and coordination of the purchase, renovation, and maintenance of the property. 

Branch manager insisted, and trained every cashier on a few quick bullet point factoids about homeownership to mention when customers were in the bank doing routine banking stuff.On top of that, the branch manager put a big giant 25 foot sign outside the branch declaring that "We Specialize in Helping First Time Homebuyers!"

What i've learned is that I want my investments professionally managed, at a distance, and I want to have professional maintenance taking care of my asset. 

Also may want to leave a bit more of a buffer for both the initial repairs and the on going maintenance.  

If you're going the umbrella insurance route, make sure it will cover you for several things including just the routine slip and fall (like mold or earthquake).

I use my s-corp for actively earned income only like management, consulting, repairs/maintenance/cleaning, wholesaling, lending, etc but it owns NOTHING.   

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Commercial leases can be "triple net" which means the tenant is responsible for all maintenance, taxes, and insurance!