With MHP's becoming so popular right now, if the market doesn't drop out, they will be even more popular, and the ever consolidation of the industry, cap rates are compressing because more people are getting into the space that have lower return objectives and are fine with lower returns because they are placing their capital that has historically earned them lower returns than what they are used to based on never investing in this asset class.  

Welcome to Knoxville, reach out if you ever have any questions.

Prior to 2018, I oversaw the FL division for the 3rd largest VR mgmt company in the nation(rather not say the name to give them free promo here).

You need to consult with your attorney and them draw up an operating agreement that spells out each of your roles, duties and responsibilities as well as consequences for not performing, and how the company is to be dissolved if it ever needs to be.

My husband and I bought our first property in 2006, and it was the best thing I ever did!

I don't plan to ever sell it as it'll make a great rental when I'm done living in it years from now, but the excellent financial aspect of it's appreciation was pure luck of timing.

For instance, I won't ever plan to fund cap ex projects out of cashflow. 

For example, there are some administrative legal fees I paid early on (notably: Having a lawyer draft up the PSA, and setting up my LLC which holds the title).If I ever get audited, what will the be looking for?

Let any of us know if you're ever up in LA and want to hang out!

I would also tell them that this situation that just occurred (you proactively strategizing on rent prices before renewal, and them subsequently ignoring you) is never ever ever going to happen again.