What’s the typical expense ratio for MHP were all units are TOH

[Edward Romero]

I am analyzing some deals that have 50% or higher TOH (Tenant owned homes) on MHP (Mobile home park). I am running into some unknowns. Does anyone know what is the usual expense ratio of MHP deals that have this type of high TOH. Let’s say a typical park of 10 pads with all occupied and are TOH.

[Logan M.]

I would second @Jordan Moorhead.

The biggest factor will be your amenities like a clubhouse, park, pool etc (CAPX) and your utility set-up. Good set-ups can be fine on septic tanks but you can also have nightmare scenarios with septic tanks. 

I would never guess on these numbers though, you need to get historical data.