First time post long time forum follower here.
I recently came across a small mobile home park with 4 mobile homes that is in pretty good shape and fully occupied. I ran the numbers and everything looks good showing a CoC Return of 35% which I think is too high and I must be missing something, but I reran them multiple times including all vacancy, maintenance, management, insurance, taxes, etc...
I am waiting to get the T12 and Rent Rolls from the current owner to verify NOI.
What could I be missing?
Thanks in advance.
main thing for me is are they on public utls if not i urge caution.. for obvious reasons.
They are on a shared septic tank, which I have a septic technician scheduled to go check it out.
I have a septic tank at my personal home so I am familiar with them and took a look at it and it is all up to current code.