Possible purchase... or not?

[Kathy Miller]

I know that MHP ownership can be a cash flow machine, but am having trouble with the risk/reward matrix. The park I am analyzing has 21 park-owned homes and an on-site manager. Park is near several larger cities and shows good rental history, BUT it is a cash only rent-by-the-week furnished deal and the on-site manager has only been there for a few months. It is located 2 hours from my home and I don't want to make more than weekly trips to collect monies. Seller has operated the park for the last 30 years and shows average monthly NOI of $10,000 or more. Tenants are what you would expect for this type of rental. Suggestions?