Maybe if you’re using the LLC for tax purposes, but if you’re only doing a couple it may not be worth it.

If that doesn't work, I'm moving forward anyway and hopefully success will convince him.Also for clarification purposes, he used to flip back in the day and had moderate success with it.

How much was the house payment compared to rent payment?

I wouldn't buy on purpose something that loses money.It all really depends on the totality of your purchase and financing. 

As compared to stock investing, there are many more variables that you are able to control.

That said, you might run into some static from your buyer's lender unless there are strong sales comparables to support your sale price.

Provide comparable rental comps in the area and they let me increase the rent. 

I would assume a 50% expense ratio because your lot rent is still below $300 mark and the % to run a smaller park is very comparable on a per lot basis up until the 75-100 space mark and/or you have over $400 in lot rent.are you going to manage this thing your self? 

@Daniel J. you don't need the financials, because you can use rent comparables.

I know this is a general question, but we are trying to figure out how to adjust calculations of fair market rents when comparing similar renovated versus unrenovated apartments.