Advice on purchasing a mobile home park
I am looking at a mobile home park to purchase. Details - 29 acre piece of land, gravel roads on property, 80-90 year model homes in well maintained conditioned, 22 homes and one older home, metered power to each home, well water. When I ran the numbers it hit the 2% rule. Actually 2.2%. My question to the seasoned/experienced investors in this arena is this: Do you evaluate the purchase price like a traditional stick built home/apartment or another method. Thank you in advance for your advice. Best Regards.