Business owners are not employees, they should really be treated as a partner. 

Everyone talks about finding deals, networking, and learning how to analyze properties — and yes, those matter.But the most underrated skill I’ve seen in successful investors is simple:Paying attention to the details after closing.That means:Tracking every expense from day one.Separating business and personal accounts.Understanding what counts as a repair vs. an improvement.Keeping organized records so your CPA doesn’t have to guess.It’s not glamorous, but those details are what protect your profits.I’ve seen investors crush their first few deals… only to get hit with avoidable tax bills or missed deductions later because they didn’t have a system.You don’t need to know everything at once — just treat your portfolio like a real business early on.Deals make you money.Good systems let you keep it.

You lose access to long term capital gains rates, and the gain is treated as ordinary business income.

You’re right to look at the numbers, but I agree with others here—don’t treat the cleaning fee as income.

Property managers help, but they don’t eliminate decisions around CapEx, leasing strategy, tenant quality, or refi timing.Given your goals, I'd consider taking one of the properties first, treat it as a proving ground, and avoid stacking multiple variables on deal #1.

If your average stays are less than 7 days it will most likely be treated as active income & depending on your situation.Ongoing operations is also an important topic, from managing prospective & current clients, review management, bookings & prices, ongoing maintenance, curb appeal, cleaning & more.

Yes, the situation is a rough one, especially since the insurance market does not treat non-weather water claims kindly (especially in our area).

The IRS treats both spouses as a single taxpayer for material participation.

Financing land + manufactured homes is differentMost banks treat raw land and manufactured homes as higher risk.

Tenant #1 being month-to-month is the biggest threat to the whole strategy.If they leave, here’s what changes immediately:• Your DSCR drops• You lose ~25% of your projected rent• Lease-up time + potential TI costs hit you at the worst possible moment• Your 5-year payoff timeline stretches fastBefore closing, I’d get clarity on:• Whether they want to stay• What they’d need to sign a new 3–5 year lease• Market rent and demand for that particular unit in case you do lose themA month-to-month commercial tenant should be treated like a vacancy with training wheels.3.