Definitely screen tenants as well as possible (for the brief time I did this myself I used BP's recommended software from Homeunion I think??)

They haven't changed the status on MLS yet, but I just got confirmation from the listing agent.

Check with zoning and confirm you are legally allowed to rent out the property.  

No notice, no confirmation from us, they said the original lease allowed for this extension and they did it.My question is, do I even worry about this?

Thanks @Wayne Brooks @Kelly Durrant and @Jeff RabinowitzI just spoke to the defendant's attorney and he confirmed that the foreclosure attorney would likely not speak to me. 

Keeping the books - Using the right management software that fits mobile home parks, bookkeeping correctly, and using the right accountant who understands parks and the benefits of depreciation will all be important.

@Garrett Pyros, what kind of software do you use for calculations?

I cannot access the city's website at the moment to confirm the actual numbers.Also I see on your MLS sheet that it is assessed at 49k and they want to sell for 69k.

I work as a software engineer full time.  

The high expense ratio are caused by many things including higher than usual property management fee, deferred maintenance , high water bills due to leaks, inefficient monthly advertising cost, inefficient property management software, neglected yearly service contracts, higher than usual insurance cost etc.