First Time Mobile Home Park Guidance
I have the opportunity to buy a mobile home park. It is not listed on the MLS. I asked a broker I know about multifamily investing opportunities and he showed me this property. It is 5.7 acres, currently has 12 mobile homes on it renting between $430 and $563 a piece for a total monthly rent roll of $5854. The owner is asking $320,000. Real estate taxes are $2500 annually. It is close to being a 2% deal. The purchase price may be negotiable and the rent is slightly below market and could be raised to $6400 monthly which would make it a 2% deal. I would like to get the seller's actual maintenance and repair expenses for the past two years. I can also see a value add from raising the rent to market rates and adding more pads to the property. This is my first non SFH investment so I am a bit out of my element.
What additional information do I need to assess this deal?
How do I get the additional information? (Is it reasonable to request tax returns, or schedules)