27 pad park deal, thoughts?

[Kyle Eckert]

I am running the numbers for a deal I found near me, mostly as a thought experiment.  Below is an image of the deal with actual numbers.  Closing costs, rehab, and financing terms are a guestimate.

The seller owns 15/27 of the homes, which seems like a lot.  Pads rent for $275, homes for $475 to 500.  I do not know of the condition of the homes.

All utilities come from the city, so no on-site pumps or anything to worry about.

Let me know your thoughts or other questions to ask.  Thanks!