I can tell you from experience it is not possible to make a profit on renting out a manufactured home. I rent ours out for January, February, March and possibly another month or two, at a lower price, if I'm lucky. Most people want to rent Jan/Feb/March and pay more for those months. The income is not enough to cover expenses (mortgage, taxes, homeowner's dues, electric, cable, phone, water, internet, Gardening service, garbage, fix-up and maintence expense, insurance, property management and/or house watch service, etc.) In my opinion, the only way to come close to breaking even, is to rent it out on a yearly basis...but then you will not have any use of the house. If you are out of area, you would probably have to have a property manager, which charges a commission of 15% or more. There is also a 11% tax due to Lake County (4%) and the State (7%) on any rental income if the house is rented for leass than 6 months. If rented more than 6 months, there is no tax due. Also, in order to make your house a vacation rental, you need to get a business license, and you have to follow certain regulations and have certain things done to the house like installing emergency lighting, smoke alarms, etc. etc. etc. So, it is not very easy or profitable venture. I loose quite a bit of money each year in order to keep the house.
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