In Connecticut, I understand that property managers hired by property owners must be licensed.One of the exceptions is if you're managing your own property or you're an on-site employee managing the property.Here's my question.

You're correct, if they are on a month to month you should only have to send them a notice to vacate and be done with it.I found that many landlords do not understand their rights or are unfamiliar with the legal process and hence end up putting up with too much.

I don't understand this.

For you accounting types;I was going through the 12 month P & L (cash basis) of my property (39 Unit) and found that I did not fully understand the delinquency line.

Add court costs on top of your lost rent for a year or more and you quickly understand why it's better to just let them move and eat the cost of finding someone else.

A good power wash and coat of paint on the outside goes a long way too.You can get estimates from many mobile home-specific contractors that understand these needs if you are not going to do it yourself.Basic repairs on a decent old home can run between $2,500 to $15,000 depending on how bad of shape it's in.

Since its your first investment, understand it doesn't need to be a home run.  

Lack of understanding and a good CPA IMO...Work w/ a firm that specializes in working with corporations...not some old guy that works out of his house...

From my understanding, you can take a FHA loan out on a fourplex or less (ie triplex, duplex, SFH).

The broker you are supervised by, as well as the brokerage firm holding your license, would be similarly exposed, which is why many brokers will not hold the license of agents engaged in wholesaling.It is important to know and understand the legal landscape before undertaking any endeavor.