There’s another thread here called “POH is evil?” which discusses some of this. The takeaway is that I would use a rough scale of 100% expense ratio on the home expenses. That’s maybe more like $300 per POH per month. On average. Because you may have 24 months of good tenants paying and then you need a new roof that wipes out your entire “profit.” Or floor repair, or whatever. Mobile homes, like any home, need maintenance – but the construction is less durable and tenants can be less respectful to the physical premises, on average, compared to apartments. Maybe. Or, take 50% of the apartment expense ratio and realize that the other 50% is your lot rent, so that’s 100% expense ratio w.r.t. your “home rent” portion.
Brandon@Sandell