Question about private road in a 15 duplex development

[David Kirby]

I have the opportunity to buy 15 duplexes for 2.1 million and net 450k after roughly 12 months. The property is in rural Missouri in a town with the population of 4000, so small.

My question is, what do you suggest my options are regarding a private road 1/2 a mile in  length with  about 1/2 an acre of grass in the center to be maintained and possibly snow ploughed 3-7 times a year?  I wanted to go through and deed it to the city but found out  there is a connecting private road before we get to city roads and my realtor doubts the owners would want to jump through the hoops we are willing to to deed their road to the city. Also, I'm told it's owned by the only asphalt company in town. 

My one thought is to see how much the company who owns the connecting road would want to take over my road and grass center. What do you think a fair price is?

The other option is to start an HOA. I have my doubts that at 200k per duplex sale price how this effects the selling of them. I suspect it could be a big negative. The area is not known for HOA's and might put fear in the buyers. What are your thoughts and experiences?

Any advice would be greatly appreciated