There is some amount of positive that you need to have in order to be prepared for some bigger expenses such as replacing a roof, water heater or a re-pipe or just new toilets in general.

First of all you don't have as much control of your expenses, and HOA's love to under-collect annually and then sock you with large one-time special assessments to do repairs.  

Thanks HenriHenri, I have an amazing insurance agent with Prime Insurance, specializing in everything real estate related.

Basically what should I be reading up on to prepare myself for the realtor exam 

Hey Brian,  I know of a great guy who specializes in Freddie/Fannie loans for MHP all over the country. 

- Did you hire a company that specializes in this like ABT Water Management to install and do the billing, or did you buy the meters yourself and have a plumber install them?  

Kevin make sure you are working with someone who specializes in investment property.

For example, I just found #10 envelopes for 1.3 cents online.For the record, though, not paying yourself doesn't make the assembly and handling expense go away: It just means you're prepared to absorb that cost for now.

If, while he was there with you, the contractor got the notion that you were shopping for bids, he may have decided he would be wasting his time and decided not to even bother preparing one. 

I would consult an attorney that specializes in creating LLCs for advice on your risk of doing it the way you are currently