Mobile Home Park Purchase

[Robin Newcomb]

Investment Info:

Other commercial investment investment.

Purchase price: $1,008,050
Cash invested: $1,000

I need to know how to treat my mobile home park on my tax return. Schedule E or C. I do not own any of the homes. Just the park and sheds, water/sewer mains, roads. Also, how do I depreciate it? County Assessor has land at $500,000. Can I depreciate the remaining amount over 15 years?

What made you interested in investing in this type of deal?

Family member encouraged.

How did you find this deal and how did you negotiate it?

Step dad.

How did you finance this deal?

Owner contract.

How did you add value to the deal?

n/a