Good advice don't even think about a mobile  home park, better yet build a 12 unit senior home apt complex.

I'm trying to build up my rental portfolio to add a few more by the end of the year, Or just one 6-10 unit apartment complex.

Hotels already have the general layout of an apartment complex plus an elevator, common area and parking.

@Mario AmIf you love your time, as you said, you won't want to be managing a 15-30 unit apartment complex.

And secondly is it possible to do a 1031 exchange it if I want to roll into a bigger park, or even an apartment complex? 

@Vivek Desai it really depends if you have the energy to maintain the exterior of the home - if not, then a condo/townhome would be a pretty good option if the complex allows rentals (have your real estate professional check this for you).

@Emily Hobbs,When you live in a property and it has portions that are rentals, it is a bit more complex than a typical landlord policy or a typical homeowner's insurance policy.

You would just be adding complexity by accepting rent checks through the LLC at this point, so it would just be easier to collect them in your own name until the LLC is set up properly.The best strategy to utilize an LLC I have seen for investors in your situation is through a land trust.

There are a lot of people who are trying to learn notes but most do not stick around as it is more complex and a lot of legal issues.

I don't know Texas law in particular and they may have some wacky laws or the CCRs may be crazy for this complex, but rental fees are generally legal for an HOA to charge.