MHP Deal Analysis, please take a look

[Zachary Bradigan]

I have a deal from outside my area that is off-market I was hoping to get input on. It is 125 lots over 4 parks in one county priced at $2.7M. The owner will Owner Finance at 70% for 5-10 years with a 20 year amortization if I come at 30%. The lot rent is at $200 and a little low for the area($250 for area), and it is mostly POHs and renting them out(like 100 POH), again at a little lower than market. It is city water/sewer, and 2 of the parks are direct billed, 2 are not. The person self manages now, long term I do not. I need to get more information on expenses as they have not given that to me yet.

It looks like a good deal just on the outset, however I was wondering if I was missing something. Let me know!