So I jumped into MHP with both feet and bought 4 parks a couple of months ago. 2 parks have no park owned homes. 2 have mostly park owned homes.
The ones with park owned homes have tremendous cash flow. The biggest pain was that banks HATED parks with Park owned homes and the terms we got were less than desired.
My number one goal is to reduce my tax exposure.
Currently the park and the homes are under the same company umbrella. Is it better to set up 2 different companies? One for the park and one for the homes? I can “rent” space to the “owner of the homes” company. The home company has both income (rental) and expenses (space rental). This KINDA gets around the question are there park owned homes… I’m not sure that is technically or legally correct.
I know this may be a complicated questions for this forum.
Learning as I go along.