MHP sale lot rent only with or without Notes

[Ryan Lewman]

What’s your opinion on a lot rent park purchase. All 2017-2018 model homes. the seller holds notes on all the homes. He’s willing to sell the park with or without the notes. If we buy the park with the notes he’s offering a 20% discount on the notes. They are 20 year notes seasoned for 1-2 years with balances in the 40’s. The homeowners all put $5k down. Would you buy with the notes, just the park, or not at all?

50 space park, paved roads. City utilities good area