Is a mobile home park with 25 vacant park owned homes good or bad

[Michael Gorence]

I've been trying to analyze mobile home parks. I'm not sure about how to consider a park with a large amount of vacant park owned homes. I realize it would depend on the condition of the homes and vacant homes would probably be in need of rehab. With a park of 90 spaces, 25 rented and 25 vacant homes I have to wonder is this situation an upside or a liability? The broker stated that the park was in this condition do to neglect by the owners. I was hoping for someones opinion on this situation.