Evaluating a MHP/RV Park Deal

[James Edwards]

Hi Everyone,

Recently had a potential deal mentioned to me. 

I don't have all the particulars, and am going to meet with the seller. It is appx 5 acres in size, all together, on city water and sewer. 

Deal would include the land, a newer manufactured home on a separate parcel, a regular small stick built home on a different parcel, and something like 20 existing rv/mobile home spots. 

I think 3 older single wides are included, and one fifth wheel/travel owned by the park, all 4 are rented, and at least ten of the RV spots are rented/full.

Price would be $350,000 for everything, and seller wants to owner carry. The caveat is that he would like to live in his house/the park until he passes away, rent/maintenance free, and have no hassle from the park. 

Questions:

This is a weird mix of things, what would you be interested in knowing, other than current financials?

2. Would his proposal to stay there rent/trouble free impact your decision?