This is also setting aside for a moment the long term appreciation of the asset and the passive nature of a rental income stream.The profit would end up going into the pool to purchase buy and hold properties at some point anyway - just looking at potential options to increase cash reserves. 

You may have trouble finding a quality tenant.I don't mean to be negative, as I am making an assumption you're buying in a rough area, but your comment, "I want to get my feet wet" contradicts the nature of all the extra/hard work that goes into managing cheap properties in rough areas.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

And, such a decision need not be singularly life-changing in nature.  

This owner (by the nature of our contract) must approve this expense before I can move forward with the repair.

@Luis Morales If you get into mobile home investing in FL, it's best to know the weather patterns and research what has happened in the area regarding hurricanes and natural disasters.

The truth is brutal, because life is brutal, nature is brutal, and existence cares nothing of what anyone thinks of it. 

I don't think you can really go wrong here (aside from the one being a class D which by nature may have higher turn cost and not hold value). 

These costs for most of the individuals are considered personal in nature( unless you have RE portfolio that is run like a business- see below).

@Chris Sprinz I'd just start with some natural conversation and interest with the owner.