Purchase price: $10,000 Bought the Mobile home as-is from an out-of-town person whose parents, unfortunately, had just passed.

How much you keep is up to you, but I don't have a high W-2, so I make up for it in reserves that could cover major expenses (enough to replace roofs on several properties at once) That's for my peace of mind being a single parent running a business.

Don't forget that in a new development the builder who is the seller controls the HOA. 

They are one of my good friends parents which I known my whole life.

This way you won't get unsolicited applications and you have more control over the process.

Isn't it nice to know that the property you own is actually controlled by politicians? 

Insurance seems to introduce another variable/party between the tenant and the owner/landlord and the tenant, which I'm not huge on since I want to be in control of inflows and outflows. 

parents own 6 real estate properties around Enfield Connecticut and they've never gone to someone for there taxes that werent liberty tax.

If you can't keep control of your personal finances, you are highly unlikely to succeed in real estate investing.

By controlling the account, you will be the manager of the furnished apartment for the owners - communicating with the guests, cleaning and repairs - without bothering the owners.