@Carl MathisThat is another angle and a good way to look at it as well.

Am I missing something, coming in at the wrong angle/perspective??

64123 has a WIDE variety of RE in it, and I've seen rents that start at $500 (and that seems high for the exact property) all the way to $2000.

The property also has 7 single wide trailers rented out for $150/week.

and "40 foot wide lot? 

If you want to have a lot of direct control over your investments and want to be in the know about the day to day operations then self-management can be a better fit.Painting with a broad brush here, you can expect PM services to range between 6-12% of the monthly rent amount, varying widely based on a number of factors.

Just be careful and enter into this eyes wide open.

Umbrella Insurance is still not too expensive, but is a recurring charge and usually exceeds the fee for an LLC by a relatively wide margin.Note, I am not an insurance broker and do not have expertise in this, but from my experience, an Umbrella Policy tends to be a bit overkill unless you expect a lot of issues like moderately expensive lawsuits.

I'll clarify where my (admittedly, sloppy from bookkeeping and asset protection angles) suggestion originates.1.

“Growing wide” meaning, using a lot of leverage to accumulate a lot of units, scaling up quickly.