Any idea how to adjust expected expense ratio for a park with lower rents?
Park has 53 occupied lots @ $175 a month.
Park has well water and commercial septic. City water is available on the property, but not used as the wells are working.
Roads are 65% owned by park and 35% owned by the county who maintains the main road all the way through the park.
Would we still assume a 40% expense ratio going in?