I recently came across a park that the owner just shut down b/c of health reasons; his not the parks! The park is an hour from his home and he broke his leg so could no longer travel there and he is elderly. The park sits on just 3 of 40 acres total just a few miles off I-20 about an hour from Dallas. The park has 28 lots, about 10 park owned homes and 1 home with a family who is now having to move but would like to stay. He's offering owner financing for everything. Well/and individual septic for each site, city water is also available.

I'm basically evaluating it at land value of $15k/acre and my thoughts were to just sell the park portion and maybe 10-20 acres then keep the rest as my wholesale fee. Or sell the whole 40 acres and receive a nice cash wholesale fee. It's possible the park could be converted to an RV park as it is right near the highway. I guess the question is, how much value do I put on the improved MH lots?

Someone could buy the park, immediately sell or giveaway the homes and start bringing in about $2500/mth in income ($250 for lot rent), more if they owner financed or rented out the homes. (Avg lot rents in that area are ~$325-$350) Then slowly add more homes or convert those to RV sites? This is a large Metro area over 100k and is growing with low unemployment and a 93% occupancy on apt rentals.