On the other hand, keep in mind that there are costs associated with maintaining an LLC (such as the $800 annual franchise tax in California).2.

It broad coverage that can be set up quickly with minimal time needed to maintain coverage where an LLC for multiple properties in multiple states will be expensive.with several properties in several states you have various compliance issues/costs associated with setting up LLC’s to get the tru benefit you would want each property in its own LLC ( maybe a series llc would be a good option)-consider the due on sale clause if you have any mortgages on the properties as transferring the title to an LLC technically triggers this ( most banks won’t call it as long as the loans current but they have the right to) here’s an article with a quick breakdown https://www.landlordology.com/umbrella-insurance-replace-llc/

It's the largest group on LinkedIn that is exclusively focused on mobile home park investing.Mobile Home University - http://www.mobilehomeuniversity.com - This is the site maintained by Dave Reynolds and Frank Rolfe.

@Andrew Postell is spot on, but also, if your goal is to keep, manage and maintain for your portfolio then perfaps also network with some partners to find some MF deals you can partner with 

I have been looking at small multi-family properties for buy and hold strategy.This is a well maintained, fully tenanted at below market rents, which gave it plenty of upside.

I have been looking at small multi-family properties for buy and hold strategy.This is a well maintained, fully tenanted at below market rents, which gave it plenty of upside.

I'm sure the place will be a noisy construction site for at least a year.I want to avoid pointing fingers, but we put our trust in an HOA to take care of things, to separate and insulate ourselves from the emotional responsibility of maintaining and protecting the value of our property. 

Old single wides will bleed you if you have to constantly maintain them

They have worked with these people, know their skill level and reliability, and they have an interest in maintaining a long term relationship with them as well as you.

Conversely, your friend might work harder and be quicker to raise red flags in order to protect you and maintain the relationship.