Take out a liability insurance policy-cost is minimal and it will give you peace of mind.

This is extremely important as they can also give insight into structure and minimize your tax liability.3.

If not jump on that ASAP to determine structure and to minimize tax liabilities. 3.

Sell the house (Which they will also give me a hard time since they go above and beyond for me with minimal cost initially.)It sounds like going for either option they will give me a hard time about it.

(I've found them to be great long-term buy-and-hold due to the minimal maintenance)Do you have a zipcode you've looked into?

You're asking us to tell you how to profit from the deal, but you've only given us two figures; minimal purchase cost and gross rent.

Is there room for growth, from where you'll be able to generate extra income by adding additional homes, services or features that would require a minimal investment, while adding more value to the park and producing an increase in your bottom line.

I also proposed doing interest only payments and he said he may be open to that as well.Obviously the owners expenses are missing a lot of things so I ran multiple scenarios below:This assumes Interest Only payments on a $1.1 million note.50% expense ratio (I/O payment) cash flow/month = $1887, COC return = 22.6%45% expense ratio (I/O payment) cash flow/month = $2397, COC return = 28.8%40% expense ratio (I/O payment) cash flow/month = $2906, COC return = 34.9% (I believe this will be the closest to true expenses with cap ex, vacancy, maintenance, management fee (although I will self manage)).35% expense ratio (I/O payment) cash flow/month = $3416, COC return = 41.0%Now assuming 30 year AM on same $1.1 million note:50% expense ratio cash flow/month = $156, COC return = 1.9%45% expense ratio cash flow/month = $666, COC return = 8%40% expense ratio cash flow/month = $1175, COC return = 14.1%35% expense ratio cash flow/month = $1685, COC return = 20.2%The market this is in is a cash flow market with minimal appreciation, so that could definitely come into play in 10 years when I have to refi with a bank, especially if I am doing interest only payments.

This makes returns on long term rentals very minimal and short term rental arbitrage nearly impossible (very risky). 

We also want to minimize the likelihood bad tenants.Any advice is much appreciated.