Mobile home park 50 pads... is there a difference between a residential home and a large deal like this contract wise?

You would probably need to issue a W-2 for your wife.On $100K, it likely will not provide a huge benefit to add your wife, as you would likely not max out contributions in your own name, but having her as a documented employee of the company would allow her to rollover existing savings from another retirement plan into the account.

Unless the house has serious issues. 

Period, So, they weren't making a judgment about the viability of my particular deal.As to the "break-even/lose" issue - well, I've learned so much while working on this house.

Biggest issue is that 2 of the buildings have history of flooding.

I had success flipping a mobile home and would like to do the same with a house. 

Most of those issues can be learned from and addressed in the future. 

Somehow the topic switched from whatever we’d scheduled to mobile home and mobile home parks – my friend’s forte.He spent the next hour tutoring us on owning and operating mobile home parks.

I started doing some home flipping from 2001 - 2009, then got into buy and hold.I am at a cross roads, so I recently sold some properties, in an effort to have a portfolio of quality over quantity.Not exactly sure what my next move will be, the big challenge for me has been learning about tenant issues, and dealing with some unexpected repairs, both my wife and I took a course and are IPOANS CAM Certified (Certified Property managers).We only manage our own properties, plus have a couple of hired property managers to help with some out of town units, however, I have been studying tenancy rules, laws, and have become addicted to answering property management questions.What attracted me to join this site, is all the different types of real estate investment people are involved in.I look forward to participating in the forum.Michael P Currie

If breaking the lease would pose any big issues for me.