Mobile Home Park Investors, Where do I Start?!

[David Nacco]

Hey everyone, I found a mobile home “park” for sale (say that because it’s very small for a MHP, 7 acres) and the price seems too good to be true. Where do I even start in analyzing a MHP? What questions do I need to ask and what should I look out for? The owners don’t seem to know much at all. They said most of the homes need to be rehabbed so I’m assuming they own all the homes which if that’s the case I would look into rehabbing the homes and doing lease options on them or owner financing. Any tips or red flags to check for on this one?