Assuming this property is not a dog house in a war zone you will need to shell out significant cash to buy it and you will receive the same rent  as a leveraged property.

Never received a 1099-S.

I looked into it and it's definitely expensive and time consuming, which is fine.  

With MHP's becoming so popular right now, if the market doesn't drop out, they will be even more popular, and the ever consolidation of the industry, cap rates are compressing because more people are getting into the space that have lower return objectives and are fine with lower returns because they are placing their capital that has historically earned them lower returns than what they are used to based on never investing in this asset class.  

As I am experienced with QuickBooks, let me talk about it:Enter all transactions as you receive them and not when you pay them:- Enter all rent as invoices- Enter all expenses as bills- Enter loans, closing, etc.IT is also called Accrual Basis.

There is a fine if you don't do this and the city finds out (they search for this).

They have their own crew/team and I'm sure everything is going to be fine.

Received a call from a direct mail letter, for a couple who lives in TN, owns a house in NJ that has been occupied by the same tenant for years.

Our notes are doing fine. 

But, you have a contractor by your side you should be fine, learn as you go.