Zoned 401-commercial. .353 acre lot7 0f 8 units updates in past 7 years. unit 8 in good condition long term(13 year tenant). all 1 bed/1bath. fully occupied. 4 units on 1st floor, 4 units on 2nd. just had the parking lot repaved spring 24', good drainage.

I did a 1031 exchange and purchased a 19 unit in Overland Park, KS. 

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Ample parking space,plus reliable and dependable staffing makes a huge difference. 

But I also have questions to see if anyone thinks this is a solid deal and what they expect to see as appreciation with these manufactured homes on land not in a park.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

The tenants only have to pay electric and they get parking, and a garage while I cover water, sewer, trash, and gas. 

I don’t have much capital laying around and I’ll most likely be working with a partner so I’d like to have a good ball park figure of what is needed to get off the ground.

Seems like your tenant was trying to avoid the $147 fee, otherwise, why would the trailer be parked away from the house.

No lot rent as all trailers are owned by the park, but avg rent is $750, currently have 10 occupied.