Seeking advice for purchasing trailer park

[Ryan Muska]

A trailer park recently came up for sale with a potential Cap Rate of 10% with room to go up. 9 mobile home units and a 2/1 SFR on the property. It is public water and sewer. There is one unit that needs to be renovated.

I have asked for the following information, but is there anything I should know about purchasing a trailer park before going into it? Never done a purchase like this before.

Here is the info I've asked for: Rent Roll, rent ledger, income report, expense report, lease agreements

What else should I be asking about?

[Jordan Moorhead]

Check to make sure it's zoned correctly and has a current operating permit