Question on a REO MHP

[Charles H.]

Hello,

I came across a 50 lots MHP, listed for $600K, and REO.

The owner seemed to have a lot of properties and parks in the area, and had his management team, but according to the broker, "he is having a really hard time". I am not sure what's happening.

I asked 3 times to the broker if he had any financials available and i get no real answer about it, except :

- Some units in the park are owned by one individual in process of being foreclosed on as well.

- No guarantee of income

- City water and sewer

How should I approach this deal ? Should i go straight to the management company who is owned by the MHP owner ?

Thanks for the help. Attached is a pic.