Nice part about SMR is they accept money orders (which we know many MHP tenants like).Never collect rent in person.  

I'm going to go against the grain here as I often seem to do...I personally hate the traditional turnkey model.

Mainly, the LLC prevents a loss from spilling over into your other investments or your personal finances in many cases (though not all).

Personal credit and assets will also be used and the amount of assets you need would depend on how many properties you currently have financed.

It is important to research tax laws in a particular location before investing to understand the tax liabilities associated with the property.Building CodesBuilding codes specify the minimum standards for building construction and safety.

There's a remote chance that the person who can't afford their payment can somehow afford to relocate the mobile home, but that's a VERY remote chance, offset in part by the higher interest rate, and in part by the surplus revenue received from the low vacancy produced in the park itself. 

Both in our business lives as well as personal. 

You'd have to find a person familiar with MN tax laws to address how the CA-sourced income would be taxed on the MN returns.As to the LLP/LLC question, LLPs require a general partner, which usually has unlimited liability. 

Standard Zillow search, was on market for 120+ days and owner had already moved out of state.

We accessed standard financing.