Mobile Home Park for auction - what should I be thinking about?

[Todd Campbell]

I'm looking at a MHP that is for auction. It is small, only 10 sites, with 8 homes owned by the site renters. There is a management company in place (which is a requirement of mine). The MHP is on city sewer and water (which I believe to be a bonus). 

I've been renting single family homes for many years, but I don't have any experience with auctions or MHPs. 
What do I need to look for and watch out for?

[Mario Dattilo]

Can you complete your due diligence after auction after you win or does all DD need to be done pre-auction?

Is a phase1 environmental report and survey being provided? 

I ask all think because the minimum you will need are those two. Others are necessary but not expensive. 

You’re kind of asking how do mobile home parks work which is a lot to answer in a forum. 

Check out my YouTube channel for how to value them and tons of things you need to know going into it. Sorry for the plug, but it’s a quick free resource to see if you want to pursue thing. 

Reach out if you need help and need a 2nd eye on it.