Opportunity for Mobile Home in MHP

[Deryk Kennedy]

I am new to RE and have been approached by one of my 'partners' with information regarding a possible property that is up for sale. I don't currently have all the information, I plan on getting a look at the property sometime after the holidays. What has been hinted at is the following:

• Listed for 3 months ($24k)
• Seller mentioned being willing to drop to $18K; 'Partner' wants to counter with $10k.
• Possible Description (Not Confirmed):
  • 3 Beds & 2 Baths
  • Carport, 2 Sheds, & 2 Decks
  • Sunroom & Fireplace in living room
  • Rented for $334 + Electric
    • (This is low for non-MH properties in the area [~$750], but I'm not sure if it is normal to be that much lower)
  • Motivated Seller

I would like to know, if this property is in decent shape, whether or not it would represent an intelligent investment. Depending on the purchase price and repair needs, we will primarily be looking at it for Buy&Hold.