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Updated almost 4 years ago,
Mobile Park Home Purchase Question - Lot Rent
Hi all - Hubby and I spotted ONE manufactured home for sale in a MPH not too far from us. The listing notes a lot rent of $759. Would we be responsible for a mortgage payment (about $600) AND the lot rent payment? Or do homeowners only pay the mortgage? We are trying to run the numbers to determine if this is a good investment; however, we first need this point clarified. (We are new investors, so let me know if we are misunderstanding something here).