Advice Is This Property A Deal

[Andrew B.]

This is a RV home on a lot. Can be used by buyer as a RV or as a rental investment on the lot.

These are the expenses:
lot fees $315 a month
insurance ~$80 a month
property tax ~$45 twice a year
utlities ~$125

The comps in the area have a rent of 600-700 dollars.
Excellent neighborhood. Trailer park within a nice residential neighborhood with houses in the 200k to 300k range.

Seller is asking for 6-8k and I want to get it for 5.5k.

Based on going over the place with the seller sounds like 1k of work depending on how expensive you want your appliances. Undercarraige well maintained due to a skirt. I came up with a cap rate of 10% and CoC return of 10%. Can anyone tell me if I should put this into contract and sell because this can actually be an investors RV for their trips or a rental property so I don't know exactly how to decide on this one.