With long term leases you hopefully only have to interact with your tenants on rare occasions however that can be significantly more burdensome with AirBNB.

Also, something you didn't mention in your analysis is utilities.

They are a necessary tool that you sometimes have to utilize.  

He pays utilities and I pay tax, insurance, snow removal.

You'll see how the interact with each other and will quickly identify those that are aggressive and won't be good for you team.4.

When I started I was still running a service business that took up a lot of my daytime hours and I needed to utilize nights, weekends, and other off times to learn. 

I would recommend contacting a knowledgeable and reputable property management company and utilize their knowledge of the areas that you are unfamiliar with.

Both houses are renting for $550 a month with the tenents paying all utilities.

If Landlord exercises this Right, binder funds will be mailed within 7 days to Prospective Tenant(s) at the address listed on their application.Move-In RequirementsFirst Month’s Rent must be paid in full in the amount of: $__________Last Month’s Rent must be paid in full in the amount of: $__________Security Deposit must be paid in full in the amount of: $__________Other Move-in Fees must be paid in full in the amount of: $__________All tenant paid utilities must be transferred into Prospective Tenant’s name.Background checks done on all occupants aged 18 and above.A Lease must be executed and signed by all parties.When all move-in requirements have been met and Prospective Tenant(s) given possession of the property, the binder will be used as the last month’s rent.

For those of you that regularly invest in mobile home park communities, what is a standard expense ratio for an all lot rental community with direct-billed utilities?