I’m sure much of what he spoke about was biased due to his businesses ventures and  maintaining his reputation in the industry. 

If they are all Park owned homes, just make sure you are aware that it is going to be more costly to run this property and more time intensive as your basically buying a 75 unit horizontal apartment.Am i understanding this correctly?

If I understand correctly you are cashing out the appreciation on your residence to go out of state.

I want to pull money from my Roth IRA but want to do it correctly so I don't get hit with taxes and penalties.

Keep in mind, the property must appraise for the sale price since the sister is getting the FHA loan.In that case, it must be Robert who was out of touch with the market, and he should probably take the opportunity to correct his mistake of originally undervaluing his property (once his tenants can't fulfil their buy option), thus, then being able to sell directly to the Sister, for more. 

NOTES  NOTES NOTES  always positive cash flow day one.. choose correctly you will have a nice income stream.

I would appreciate your advice about  the correct numbers to use when estimating closing costs while running the numbers for our next purchase.This is an example of the closing costs for a rental that we purchased for $105,000.Loan Charges:  Origination & prepaid  interest:  $1,000Title Charges & Escrow/Settelment:  $1,600Impound Charges:  Tax & Insurance:  $1,500Total:  $4,100Which of the charges should be entered into the closing cost field?  

See my blog on The Tenant PhaseTo be a successful landlord, and maintain that excitement that you had when you first began, before you knew the ropes, you have to have all this in place, and you MUST AT ALL TIMES STICK TO THE RULES OF YOUR CONTRACT, YOUR LEASE AGREEMENT.

I've been toying with the idea of getting into rentals as some more supplemental income, and although I've struggled with the math as far as justification, i believe the main reasons folks here by rentals (please correct if I'm wrong) are: Cashflow (although I've seen people do deals eg on Roofstock for only $100-200/mo) + appreciation (when sold) + taxesSo assuming I'm correct there, then the potential tax benefits are 30% of the reason to do rentals.

Also, when a correction comes you want to be prepared, it's going to take EXPERIENCE. you need all of that you can possibly muster in the time before.