Does this have potential

[Dan Palumbo]

I am looking at a mobile home park that appears to have been mismanaged and is now a short sale. The part is 18 lots with 4 homes currently on a lease to own. 4 more homes are in various states of disrepair and are vacant but look like they can be rehabbed anywhere from $2k - $2500 each.(high end)

It is on City water and has a lagoon system that was just certified in 2017 for 5 years. Current rents bring in 1540, monthly expenses are at $1300. I have called the state\epa and discussed what is needed for operation of treament plant, confirmed the certification and validated all but rent roll.

Barring rents panning out and with the possibility of rehabbing and renting the existing vacant 4 units this appears like it will cash flow well and  have some significant upside with 10 more lots to be filled potentially.  Would love to hear some thoughts or talk to someone with expertise in value add to MHP's. Ive attached analysis below of existing numbers.

Current rents