How should I analyze a duplex with a six lot trailer park

[Eric Rohver]

I just found a property with a duplex and six occupied rental lots. The seller has owner-financed the six mobile homes to the current tenants, and has included the notes in his inflated asking price of $189,900.

The duplex is rented ($500 + $565) $1065
Six lots rented ($250mo each) $1500

Payments received on trailer sales $1500mo ($50k outstanding)

Does this raise any flags? The seller should probably drop his price and hang on to the notes (sell separately) instead of raising his asking price.

I'm looking at the $2565 monthly gross (not including payments received for trailer sales). Does the 50% rule apply here where there's no maintenance on the rental lots?