Current properties, except for 2, are run-down, poorly-maintained, disgusting, and have everything from working class immigrant families to meth-heads.  

Up to now most of our deals have been friends and family deals, where our investors have believed in us and although we do talk about various checks and balances in each deal, our group has maintained control over all decisions.

We are structuring our deals:8% cumulative pref, 80/2012% cumulative pref, 70/30 15% cumulative pref, 60/40With the option to cash-out in year 3 for a early cash-out premium (no longer owner, plus increase in sponsor fee by at least one point)or With option to cash-out year 5, maintain ownershipDo you split the equity at resale based on Investors initial capital amount, their perf at time of resale, or their split at time of resale?

The only issue with holding manufactured homes is that if they are not properly maintained they can degrade pretty quickly.

My question is mostly about the prospect of so-called "passive income", basically earning positive recurring revenue sources with little to know work done to maintain it.

If they do something that concerns you, I am on your side, as they all benefit from their relationship with me - and work hard to maintain the relationship.My true motivation, is to help people build portfolios - this game is a long game, and I've been in it since 2002.  

So owner would have to incur an additional out of pocket expense of $14,192.13 per year, just to maintain property and hoping property appreciates in value in excess of this amount just to soften the hit.

Great project managers maintain the 3 constraints regardless of the construction process, and have their goals aligned with the owners; changes to the constraints are not of benefit to the project manager- keeping the project on schedule, within budget, and minimizing scope creep is of benefit!

There are plenty of people the maintain a full time job and do REI.

We maintain a good relationship with that neighbor and show our gratitude every year by giving them gift certificates to their favorite restaurant.