Buying a small mobile home park

[Derek Robinson]

Hello, 

I have a contract on a 3 unit mobile home park.  The property is about 4 hours away.  The tenants own their own trailers, cut their own grass, and have city water, sewer, and electric billed to them separately.  There are no common areas to maintain.  While I have a trailer on land and 5 other residential properties, this will be my first 'park'.  I'm just interested in any advice anyone could give.  A few questions would be:

Do I set up new leases with the tenants?  The current owner has only owned it a few years and he has no leases, everyone's been there for over 10 years.

Anything in due diligence period I need to think about?  I've already called the city to confirm land use, getting a title search with a closing attorney, verified rent roll.

Any other advise anyone wants to give!  This will be my first to get my feet wet.  If all goes well I hope to buy a larger park by the end of the year.

Thanks!