Interested in Mobile Home Park for Sale What to Do Next

[Tim Burdette]

I have found a small mobile home park for sale but I don't know what my next steps should be.  I have invested in SF and MF before but never a mobile home park.  Here are the details:

5 mobile homes sold with park (recently renovated)

Room to add 2 or 3 more

Homes on septic (not sure how old the system is)

$2200/month rent for 5 current homes

Purchase Price: $140,000

My long term goal would be to sell the 5 MH that come with the park and give the new owners the option to stay in the park and rent the pad.  Add the 2-3 pads that there are currently room for in the park.  

Because the park comes with 5 MH would I need to do 5 separate closings to have the properties placed in my name?

What are my next steps with moving forward with this purchase?  I have already emailed the listing agent to find out what the monthly expenses are for the park owner.