Would be greatly appreciated for some feedback/recommendations on using a third party management company for MHP. Ive heard some mixed reviews but the concept is appealing to me given my time constraints and lack of prior park management experience. If anyone has had a positive experience working in this way I would be very thankful for an introduction
@Josh Klauber it really depends on the park. 3rd party management can work on a park that is already stabilized and running at or close to efficiency, but parks that require heavy lifting to get there are not a good fit. With that said, if you plan to use a 3rd party, make sure to find a company who specializes in parks and is familiar with the state regulations. Hiring a PM without intimate knowledge of parks is a recipe for brain damage.
Some property management companies are specific to a particular geo location. Plus as @Jack Martin pointed out, they must have MHP experience.
I suggest you do the reverse-engineering on BP and search BP for prior posts on PM for MHP company in your area. Another search that may benefit you is to look for local (to you) MHP investors, reach out directly via BP mail and ask for their recommendations.