Potential Deal I Found- Bisbee, AZ - Mobile Homes

[Cooper Weisbach]

Hey BP, If you are an investor in AZ, I found a listing for a 14 unit mobile home park listed at $135K. Currently, there are 9 units that are occupied renting at $215 per unit. That's $1935 per month. At that list price, the property doesn't meet the 2% rule (1.43%) but at an offer of $96,750 you would be able to hit that guideline. Based on what I've learned so far, you can come in with a low ball offer of 70% of the listing price which would be $94,500 which would actually net you more than the 2%! The agent mentioned that there are 5 vacant pads so if you have the capital or can secure the financing you could increase your cash flow, however, I'm not too sure what mobile homes go for or how the mobile home renting process works(i.e. can you bring your own home?) but this was one of the only multifamily properties I could find in the $100K range in AZ without going on the MLS or using some direct to market method.

Anyways, thought it might interest someone out there! Let me know if you think this is a good deal and if you pursue it, I would love to assist in the refurbishing/rehab if you do end up going for the property for free! I'm just eager to learn. I linked the property below, also not sure if this type of post is frowned upon, it's not my own property so I figured it was okay, just wanted to share the opportunity.

Cheers!

https://www.loopnet.com/Listing/2010-S-Bowers-St-Bisbee-AZ/18755129/