Help running numbers & finding financing for MHP

[Lina Emory]

First of all- how much is this park worth to you?

11 mobile home pads plus one SFH.

10 pads are occupied, plus the house currently generating $4850/m in lot rent & house rent. (average of $400/m) 

$7000 annual expenses roughly- insurance, septic Mgmt, lawn care, etc. Tenants pay utilities.

Seller may be willing to finance with a large downpayment.  Asking $499k but hoping we can get that down. 

How would you suggest structuring a seller financed deal? I could partner with someone and probably put close to $100k down but need to factor in $10k for first year expenses into that as well. My DTI is tapped out, so it's creative or bust.

Thank you!