Mobile home park deal the involves virtually no cash up front

[Tony Sklavounakis]

I Know of a  a mobile home park that is for sale for 176K for 11 homes I want to obtain this park for my portfolio with virtually no money down...I know it might be impossible.  So I want to know how to structure a deal with this family for the 11 MH in there park for little or no money down.....and if that is not possible wanted to see if someone could provide insight into wholesaling this out.

The family has an additional 36 homes for sale later in the future

The 11 homes have their own water and electricity.  This park the owner of the park own both the land and the homes.  They seem to be in fair condition. 

They reported that they have made approximately 4,600-5000 a month with the 11

I want the 11 for myself but don't know how to communicate an offer to them that allows me to risk little money in the deal.  They will consider owner financing on the 11 with 56k down. 

I don't have close to that.  Any advice or comments is appreciated. 

[Jay Dean]

Something smells fishy here.  That means they net $55,000.00 per year and they are selling for only $176,000.00.  This also means they value each home and the land that it sits on at $16,000.00 (if you completely discount the rental income).

This might explain why they are asking for a huge down payment.  They might be cash starved and liquidating this asset to keep afloat.

@Tony Sklavounakis do like @Andriy Boychuk suggested and ask to see the books and tax returns for 2016.

This might be a great deal, but I am a little suspicious.