Rentals in age 55+ communities?

[Ned J.]

Any of you guys have experience owning units in age 55+ communities? We have several near by, gated, nice units, double wide mobile homes etc, decent surrounding neighborhoods. I've seen them posted on the MLS and never really looked into them because I would think the rental market would be pretty narrow for that type of unit....so never really pursued them.

Just got contacted by a RE friend that got a listing and was wondering if I would be interested....

My concerns...

(1) The 55+ age restriction..... I would think that narrows the tenant pool quite a bit.....

(2) Since its a gated mobile home community, the park has to approve buyers and tenants..... I don't like ANYBODY telling me who I can rent to..... I have strict guidelines for my applicants, so I doubt I would have issues getting anyone I approve past them, but I don't like the idea of someone else having a say on anything about the unit

(3) Exit strategy....... seems more narrow that a typical SFR etc

(4) Harder to research value, rent rates....market/advertise......tenant screening since many might be retired etc

So if any of you have experience in that type of unit, I'm all ears.......