MHP - How do you feel about POHs (Park owned Homes)?

[Benjamin Schultz]

I'm looking at my first MHP deal and hoping for some general advice on POH.   

The park I'm looking at now is fairly dominated by mostly older POH (16/24 occupied pads) . All that I have read says to get rid of POH as they essentially seem to be more trouble than they're worth. With that said, these POH rents are more than double the $350 pad rents and add real money to the NOI.

I realize that POH heavy parks are not the business, but with that said, is there some percentage of POH in a park that's OK?  I would imagine every investor looks at this slightly differently.  Any and all advice or thoughts would be appreciated!

Thanks,

Ben