It's  immediate penalty and may reduce the tenant call you with similar issues in the future.

To reduce the ownership down to the filing tax payer is exactly what you want to do.  

As property owners, some folks trade their time for reduced expenses in property management, for example, or property maintenance.

I was first focused on reducing my debt from college, law school and getting settled.  

If you are paying more than that it's  likely easily fixed by replacing the toilets with the high efficiency version (this has consistently been the case and has helped reduce the cost of sewer and water by 40-50% on properties that had old toilets).

.- If you cannot walk to the beach, must have much much lower rates to compete with others / renter pool reduced considerably- High Vacation Season is now only about 6 weeks, where you can get top dollar rent / then another 7 weeks for shoulder season rent / and the rest of the year is lucky to get enough to break even - or get a long term renter for the off-season, where now you become a landlord vs. a vacation rental owner at a low rate, where hard to find a good renter that won't trash the place - & then landlord/tenant laws apply - may not be able to evict if needed in time for high-season guests (now what)- More upkeep and maintenance needed on a mobile home - they are not built as well/sturdy etc. as a stick built home on a foundation- There is a stigma attached to "mobile homes"- The numbers just do not make it as good an investment, when you add devaluation into the calculations- Resale is like a car, devalues over timeHOWEVER- If you find a community that will allow short term vacation renters, and you have all cash, you can probably find a good deal on an older used home where they numbers make more sense.

As the market started to cap rate compress the property naturally increased in value and with reducing costs, increasing rent growth, and lower vacancy the sponsor had a very nice payoff on the back end.These days most of those properties are gone for multifamily.

But not mine.It would appear the posting viewable area has been reduced with a narrower format and a much harder to read font. 

If you have kids and a family they can help reduce risk of job loss and life changing events.

The only downsides to a big rehab are: 1. larger variation of unknowns which is reduced with experience and 2. it may take a few weeks or a month longer, which may seem important when trying to get a unit on market quickly, but in the long run it's irrelevant.