First Time Mobile Home Park Investment

[Robert Lenfestey]

I have the opportunity to buy a mobile home park. I asked a broker I know about multifamily investing opportunities and he showed me this property.  It is not listed on the MLS. It is 5.7 acres, currently has 12 mobile homes on it renting between $430 and $563 a piece for a total monthly rent roll of $5854. The owner is asking $320,000. Real estate taxes are $2500 annually. It is close to being a 2% deal. The purchase price may be negotiable and the rent is slightly below market and could be raised to $6400 monthly which would make it a 2% deal. I would like to get the seller's actual maintenance and repair expenses for the past two years. I can also see a value add from raising the rent to market rates and adding more pads to the property. This is my first non SFH investment so I am a bit out of my element.

What additional information do I need to assess this deal?

How do I get the additional information? (Is it reasonable to request tax returns, or schedules)