Updated about 10 years ago on .

Looking to purchase a mobile home park
I am interested in leveraging the funds from a the sale of two residential rental properties currently on the market into a 1031 exchange. Generally, I am looking for:
Areas with increasing population
Avoiding A Class mobile home parks
Mom and Pop Parks
At Least 10% minimum Cap Rate Going In
Easy Rent Increases ( $10, $15, $20 ) per pad
Cost Reduction Options Turn Utilities over to the owner
No Park owned homes
Not in a Hurricane Zone
In an area not dependent on a single industry with a diverse economy
Offering Seller financing with 10% to 20% down.
I am not interested in a JV arrangement that would split the income 50%-50%. I've seen that being offered on numerous occasions but I believe better.
Thanks,
Erick