This will allow you to enter the market earlier with funds saved up.

You have to have confidence and the Sponsor needs to build a relationship with you if he wants to be sure you have some insights into the risks of the types of deals you would be funding. 

Quote from @Dyllon Gibbs: Hi All,Does anyone have experience with rent guarantee insurance and any specific companies?

Even if you aren't a property management company, you can still use platforms like AppFolio, Yardi, Buildium, and so on.Excel makes it too easy to forget something.

As others have said, these help ensure you have funds needed for items that arise during the process of being a landlord. 

I was thinking about talking with a modular home company and starting a lower middle class mobile home park.

We are a family- owned real estate investment company.

It's a townhome that we bought to move into, but due to some last minute changes we decided to live with family and rent it out (our mortgage company is aware of this).

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.

You need an outside source of cash flow to fund the in-vesting.