One more comment – you might put 3 parks under contract but back out of all of them for one reason or another – just because you get a contract on a park at a price that makes sense, and just because it took you a year to find it, you might be tempted to say “this is too difficult to find another one and I should overlook [problem issue].”
One the one hand, all deals have warts. On the other hand, the whole point of educating yourself on this forum is to avoid being the sucker who overpays and then finds that they can’t make any money from being in the park business. Half (or is it all?) of your profit is made on the front end when you buy at a price that makes sense. Speculation (hope) is not a sound investment strategy.
I know I have looked seriously (contract, visit, etc) at close to a dozen parks over the past two years and I passed on most of them for various reasons (infrastructure problem, local economy/rents too poor problem, city-council restricts the park operation problem).
One good way to find parks is to STAY in touch with the owner/broker for parks that are languishing (on MHPS, Loopnet, etc) because they are overpriced. When the Seller decides to “get real” you want to be first in line to receive the call. Circumstances change. All of a sudden there is a price drop indicating something is new and you want to sniff that out. If you’ve already done your homework you know what you’re willing to pay and you can be first to the goal line that way.
Be creative with your “box.” Once you decide you are getting on a plane, you are pretty much a day away from anywhere in the country. All of our parks require a one-stop plane flight (nothing non-stop from me to park even though I live in a major metro).