4 Unit Mobile Home Park

[Raymond Stinson]

I've found a property for sale for $49,000 with 4 mobile homes on it,  all currently occupied.  2 tenants pay $475 a month,  $350 from one and the other owns the home but rents the land for $200. Seems like a really good deal but the catch is they all share 1 private well.  There are 4 septic systems though.  Would something like this be hard to finance conventionally and do you think having only 1 well is a deal breaker? Looking for advice,  thank you!

[Jon Dorsey]

It’ll be tough to find financing for a $49k property. 
1 well is not an issue as long as it’s working and the holding tank has enough capacity. 
Do your diligence on the infrastructure and homes.