It ultimately depends on how close you want to be to things.

Ultimately, I turned away from the site.

It's like the exact opposite of a Catch-22 where instead of being damned if you do, damned if you don't you are blessed regardless of which choice you ultimately make.What are your long-term goals?

Obviously, though, you will ultimately need to locate some assets/income to collect on any judgment. 

Ultimately, while the cheap labor is nice, you need to protect your business.

I got another job opportunity in Omaha and we moved back.Before we moved, we toyed with the idea of keeping our Phoenix house as a rental, but ultimately decided to sell it, netting a little over $70,000.We have used some of that money to pay off student loans, and other debt.

What is your ultimate end goal?

Sure the old owner 'helped' the tenants by never raising rents, but ultimately they are getting kicked out of their parks when the owner is done managing his investment.  

I will ask my local investor friends what structure they are using and ultimately will most likely meet with a CPA.

. :)First off, if you haven't read Chris Voss' "Never Split the Difference" and listened to podcast "The Ultimate Guide to Negotiation", do so right now!