All I know about his finances is that he has some savings in a savings account and is almost entirely risk-averse; despite that, at the end of discussing it with my father, my brother blurts out that he was willing to invest in my venture as well!

However, I can’t seem to find enough information (or at the very least a dumbed down explanation) of earnest money and escrow accounts.

don't forget about mowing, snow plow/salt, some turnover, taxes for your manager/workers comp, free lot rent, money for your management time, accounting software, LLC set up cost Your going to have more of a greeter in a park like this, which would be free lot rent only and maybe $5 a lot...smaller parks have really thin margins...if you have 2 tenants move out, die, leave town, get arrested, whatever, you then lose 14% of your tenant base and monthly income for the property, get to 5 tenants and your at 40% which could throw your loan into nonperforming very quickly unless your willing to come out of pocket on something like thisjust to show your top gross revenue will never equal 40,000(210*14*12=35,280)just do your diligence and i wouldn't pay more than 200k for something like this...and thats a stretch or if there willing to carry some of the papersomething this small, don't turnover to a property management company because they don't know what their doing normally with a park like this and their going to charge 10% of revenue probably.

We do so by utilizing all possible forms of technology (email, video conferencing, secure document sharing, cloud based accounting and tax software, etc).

Account Closed I'd recommend R.L.

I think I might need to find a good accountant as well now that things are getting more complicated by the year.I will reach out to you when we settle in though.  

Account Closed Thanks for the kind words!

I'm a little bit confused about the process of going through the MassSave program in a multifamily rental property in which none of the utilities are actually in my name - I was told that setting it up with the electric account number for one of the tenants is the simplest solution, but I'd prefer not to have to go through them to get it all done.

I'm just trying to help you out before BP penalizes you and closes your account.

I disagree as to me they are both needed, but I understand that for some it may not be necessary due to their threat level.Also using entities will create additional costs (creation, maintenance fee) and additional administrative burden to keep its protection veil intact (multiple bank accounts, paperwork trail, tax reporting).