It may look an awful lot like manufactured, usually due to roof pitch, but It qualifies for ALL the typical loan programs that DO NOT deal with manufactured housing rules. 

@Bobby Beard Usually they are type in but not sure how you purchased or how it was delivered to you.

So if you want to estimate the income that will show on your K-1, take the forecasted NOI, subtract loan interest (not the principal payment), subtract depreciation (take the purchase price, multiply that by a decimal that is the the ratio of structures to land assessed value on the property tax bill (usually between 0.6 and 0.8) then divide by 30), then subtract amortization (nearly impossible to predict, if you ignore it you’ll just get a conservative estimate of the taxable income).  

@Chris Clothier  as usual eloquent post.I would think your advice is sound.. with Telsa and over flow from CA  the Reno valley is probably pretty solid for someone who lives there..

Online... is a long and tedious process :) but if done consistently can be a great supplementary way of getting other folks to notice you and wanting to work with you...You just have to be honest, and even if you are a tire kicker and the newbie, as long as you present your journey showing who you are and where you are coming from and why you are thinking the way you are thinking then folks will learn to trust you, believe you and connect with you, which may or may not of course result in you get the right agent in your local area.Remember what may seem tire kicking to some, and means business as usual.... to you it's the entire life savings... type of decision...  

Usually, people elect S-crop to save Self-Employment taxes, but Rentals are not taxed as self-employment income to begin with.

If you are looking for passive income then again with your current credit score and a year of seasoning I would hope your score at least maintains above 640 which is usually the minimum for a lender to accept for a mortgage. 

I plan on also doing a credit check / background check after I receive the application back from prospective tenants.Heres the link: http://www.nj.gov/treasury/dpmc/Assets/Files/Renta...Also - do you guys usually charge application fees?

They might get down like that in Yuma, Needles and Bryon (read desert)  Google / Facebook / IPO millionaires are to close and after the IPO they need a place to park their money, so carries are not a thing like they are in "fly over country"  Look here for people that solo 401k / Solo IRA loans that might keep it in their portfolio as they usually have more flexibility in how they underwrite their opportunities. 

Usually you will pay for insurance on individual properties, and yes your liability and fire policy should be much cheaper than a homeowner's policy which is used for people occupying the home.