mobile home parks
ok, so i have what looks like a great deal on a mobile home park, i'm just trying to figure out which route i should take once i buy it. the current owner has 16 mobile homes which he rents. he has never owner financed or rented spaces. i would have all 16 fairly new mobile homes included in the price, plus 100% occupancy, and the land. the park is set up for 19 mobile homes total, each running on a seperate septic system, but he bought it with 16 homes and has never used those other three lots. i have 2 months until the first three rental contracts are up and i can do what i want with them. i have heard wonderful things about rent to own over four years and then when their mobile home is paid off, they can either move it off your land, or they can continue renting that lot. this way, they pay a rent amount for the land and also seperately they are buying the home over usually 3-5 years. my question is if this deal comes with all the homes, how do i go about switching (after their contracts are up) to a better solution such as rent to own? i can't do a lease with option to purchase with 3-5% of value non-refundable because trailors depreciate unlike houses...or can i? it would be great if i could do this and i am new to all things "mobile home". i just know that this looks like a great deal, even if i kept renting exclusively. although i don't really want to be a landlord and be responsible for all repairs. any help would be great.