Need Help on a MHP deal
I was hoping to get some of your guys' opinion on a deal I am working on. I'm currently pursuing a small MHP with 12 spaces, 11 are occupied by tenant owned mobile homes. The cashflow is great and I would love to add it to my portfolio (this would be my first MHP). My reservation is that it's out in the sticks, the road that runs through the park isn't paved. It's about 15 min away from a city with a population of 100k but there isn't much around the park. Also the current owner swings by a couple times a month to pick up rent, the tenants pay in cash. So I am having problems finding a property manager that would deal with this. I read in someone's post where they referred to a rundown MHP as a "toilet," I am worried that's what I'm dealing with. Thanks in advance!!