But then how do I account for the depreciation benefit that I would get if I purchased a mobile home park (this latter point is confusing to me, and the key driver of this post)? 

Now the market here has been CRAZY with places appreciating like mad, so I was wondering if there were any other investors in/around the area that have had success finding cash flow positive rental properties? 

That is more of a driver for me than a tax assessment.

I believe the "Rules" are becoming more restrictive for FOREIGN investors (which up until now seem to have been the great driver of these "hot" markets), but if you're concerned about Negative Gearing Rule changes in the future, then I think you're RIGHT to be concerned.

Or if you show up frazzled, tired, or mad (from the drive), it may not end well whatever your landlord task. 

So they are mad and feel betrayed. 

If I was a young 25 year old and said, I want to be a truck driver, what would I need to do??

Even the contractors I had working on the rehab were concerned with the madness of the neighbors.

Maybe get rid of the 10% buffer if you already have a lot of science behind the estimate.Maintenance - As others have said, the maintenance number is too low (especially for 100% turnover) but your combined maintenance and cap ex do not appear too low.Appreciation and Principal Reduction - Cash flow is one of three profit drivers in real estate and to calculate the true return, factor in the other two drivers using the IRR.At a 60% expense rate for a $1450 rental, you are likely forecasting expenses a little on the high side (even with the higher taxes) but you may not be too far off (and the tweaks I mentioned may help).

Every time I do an inspection, I am always mad at myself for not getting more of the trades through.