Should I buy this mobile home park?

[Joel Ortiz]

I currently have a very motivated  seller of a mobile home park.  It's 11 homes in Illinois,  the homes are owned by the park , pay all utilities  and is Cash flowing for the past 3 years  50  thousand  to 60000  dollars every  year.  Would you buy it?

  I know there's many factors  but it's looking like I could get a 12% cap rate. If I give him a lower offer , cuz I told him I'm going to pass  and he said will you offer anything? 

He's asking 525k . 

I've been told to stay away from Park on homes , but his handy man does all the work for him. 

He also has some other real estate that he wants to get rid of and I'm thinking  of telling him I can sell his  house on owner financing  flip the note to my note buyer  and then use that as my down payment  along with owner financing .  No money out of pocket  deal.  

The site is  open for another  20  plus  sites , but takes capital for that Improvement .