Am I liable for the security deposit that the tenant gave to the previous owner??

What cost am I looking at?

Last year we got a deduction of $900 based on maybe $10K in losses, but this year it's zero.So, I guess it's good news that the losses protect the rents from being viewed as incremental taxable income am I right on that?

Am I asked too much?

And also a lucrative cash cow.So I turn to my learned brothers and sisters, what am I missing?

Admittedly they are pretty hard core, but so am I, and looks like you are looking for answers.

The seller had simply faked the financials, and what they thought was lot rent actually also covered the rental of home the seller did not own.I have several times helped friends avoid overpaying because they missed physical plant challenges when they did their own DD.One of the communities I helped a friend avoid has sold 12 times in the last 12 years because of the challenges.Just to be clear, I do not do DDs anymore, nor am I offering to do so.Springfield, MO is a great area for land lease so prices will be higher.If this is the first community you are buying, I would seriously consider engaging a professional to help you that really knows what they are doing.

Hey now, I'm not living in Cali nor am I a socialist.

Am I going to need to be licensed with the state or SEC?

The rental I purchased last week had fairly significant security deposits in place, a portion of which was labeled as "non-refundable".Am I correct to assume that's essentially income?