Mobile Home Park Purchase

[Jeremy Hebert]

First time post long time forum follower here.  

I recently came across a small mobile home park with 4 mobile homes that is in pretty good shape and fully occupied. I ran the numbers and everything looks good showing a CoC Return of 35% which I think is too high and I must be missing something, but I reran them multiple times including all vacancy, maintenance, management, insurance, taxes, etc...

I am waiting to get the T12 and Rent Rolls from the current owner to verify NOI.

What could I be missing?

Thanks in advance.