I'm new. Just looked on craigslist for MHP and found one in IN which mentioned having a license until 2020. I looked up the state and found a lot of regulations, laws and inspections. I haven't read far enough in my book I'm reading (Mobile Home Park Wealth Part 2) to see if that is a covered topic but wanted to post here and see what kinds or problems MHP owners have had dollarwise and headache wise trying to maintain their license.
This property uses well water but I haven't searched for any other things about it.
One other question about licensing, would everyone agree it's better to have city supplied services or is this a big depends on your experience as a MHP owner answer (like wells, trash, sewer plants, etc)?
@James Jordan It'll be more bureaucracy and red tape which can be a good or bad thing depending on how you look at it. The proper forms will need to be used and your license displayed properly. Also, you'll probably be audited eventually. Just part of being in the business. Good luck!
I should have read a few pages further, thanks for your response Rachel.
@James Jordan City utilities are typically preferred but just know what you are getting into with private utilities and vet them during diligence.
Permit/license will vary in terms of cost and regulations. Could be 50 , could be 500 , could be zero , could be more.
Indiana i believe is a state where its primarily regulated at the state level. There are good resources.
Check with the city on what you have to do to maintain or with the overseeing regulatory body.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.