Converting rentals to lot rentals


#1

I am looking at a large park, 110 spaces. The park has 20 lot rentals and 60 park owned homes in additon to 30 vacant spaces. Most of the rentals are 80’s models, probably worth a few thousand each. What i am interested in knowing is if i price the units at 2-3k plus interest financed over 2 years, how many of those 60 tenants would opt to own their unit? I would think that somebody would jump on a deal where their payment goes from $400 down to $300. Can someone give some insight on how long it took to change a bunch of rentals over to lot rentals? Is my price fair?

thanks