Looking at a mobile home park to get to apartments

[Aaron Davis]

Hello everyone, I hope that you are going to have a great and successful day in this thing we call real estate. I'm just wanting to throw out what I'm looking at to get ideas and perspectives from others on what I'm looking at.

I'm currently a landlord of a SFR and am going to be increasing my RE holdings. My end goal is to move in the direction of multi family housing and apartments. So without drawing this into a really long post this is what I'm looking at.

I recently found a property I'm interested in acquiring. It is a mobile home park with 19 pads on it (17 of the MHs are owned by the park, 2 pay lot rent), a duplex, and a 4plex. The duplex and 4plex are both 1/1 units for a total of 25 units on the property.  The asking price is 319k. After pretty thorough analysis by myself and my bank the property will conservatively be netting about 20-30k/yr.

I've been approved through my bank for the full purchase of the property by cross pledging equity from my other RE.

All that said my question is this. Would you buy a property like this with the goal of moving towards apartments and other multifamily or would you pursue other multi family from the start such as duplexes and greater?

Thanks for all your input