Mobile Home Park 1st purchase, need advice

[Craig Anderson]

Hi there BP! I've stumbled across a package deal to acquire 3 Mobile Home Parks.  The seller will carry 50% if I purchase all three parks.  The prices are right, and they all cash flow with tenants owning all but 2 of the homes.  These are smaller parks, but they cash flow nicely. 

What are some pitfalls with mobile home parks? 

What are some things that I should be mindful of before making this deal?

Are there specific questions that I should ask?

I've asked for the financial statements, and they look solid. This would be my first deal of this magnitude. I don't want my excitement to cloud my judgement, so any advice would be helpful.

Thanks!