There are still ways to minimize your tax liability as long as you keep great books and reinstall the money back into the company with very little going into your pocket, except for a minimal amount, like a small salary.

I would definitely recommend that you get a park with minimal park-owned homes, near a super Walmart, in a town of at least 5,000 people.

I own another unit in this complex and the expenses have been quite minimal (maybe $1,500 over the 2 year period), so I figured I was being conservative with the ~$2,400 estimated annually in repairs.

However if you have the cash you can do delayed financing which is the purchase price plus rehab all paid at close.

The roof cost are minimal in comparison but so is the profit margin.

I recommend reading this article that compares an LLC to an Umbrella Policy and which is best based on specific scenarios:https://www.apartments.com/ren...Other ways to minimize risk as a landlord include:Maintaining your property; if it's broken, fix it. 

You are asking the questions to minimize chance you miss something.  

Keep in mind, I'm starting out with a very very minimal/tight marketing budget.

Ok, I agree it has served me well with the few I've done and allowed me to quit my day job with income left over to save a tad monthly based on a very modest lifestyle.I have been fortunate to have great tenants, amazing even, with just 1 that was a nuisance to the other roommates and I was able to get rid of with minimal cost. ( Mark you, this tenant I didnt completly vet except for the background and credit checks, then handed him over to someone else to complete the process).

With any delay, you risk incurring additional fees or cost if the tenant subsequently claims that not having their car resulted in additional expenses of who knows what amount and distress.