Redeveloping a mobile home park

[Christian Carson]

Hello fellow investors,

I have an opportunity to purchase a large, 100+ unit mobile home park. The 28 acres it sits on is highly valuable land, the park is dilapidated, and the owners are behind on taxes. The city has been trying for years to get rid of it and merge it into the public park next door, but I suspect the highest and best use is a SFH development.

As I know little about MHPs, I would like to reach out to those of you who are experienced in dealing with them and what pitfalls to expect. Specifically I'm wondering about the following:

- How long is a typical mobile home lot lease?
- Would eviction be an option?
- How costly is it to dispose of an abandoned mobile home?
- Are there any other pitfalls to remediating the land for redevelopment into quarter-acre lots? Environmental considerations?

This sounds like a difficult task, but the potential is high due to its being adjacent to a beach and nestled between two public parks. It's now a matter of determining how much it will cost to clear the land and how long it will take to get all the units off the land.

I'd love to hear from anyone who has done something like this before!

Thanks