Seeking Advice: Investing in Mobile Home Parks - Land Rents vs. Owning Mobile Homes

[KC Pake]

I am intrigued by the prospect of investing in a mobile home park. However, I'm at a crossroads and would greatly appreciate your insights and experiences.

Option 1: Land Rents Only - In this scenario, I would own the land, and the tenants would own their mobile homes, paying rent for the lot. This option seems to have lower maintenance responsibilities since I wouldn't own the actual homes.

Option 2: Owning Mobile Homes and Land - Here, I would own both the land and the mobile homes, renting them as a complete package. This could potentially yield higher rental income, but I'm aware that it comes with increased responsibilities and costs for maintenance and management.

Here are my questions:

1. Profitability: Which option tends to be more profitable in the long run?
2. Maintenance and Management: How significant is the difference in maintenance and management responsibilities between the two options?
3. Tenant Stability: Does one option typically lead to more stable, long-term tenants?
4. Market Factors: Are there market factors that I should consider that might make one option more favorable than the other?

Any insights and experiences would be immensely valuable.  Thank you in advance for your time and wisdom!

KC