First time park buyer here. Attended Austin 2018 conference earlier this year.
Questions: (1) for all current park owners, are there any practical considerations you missed/neglected when you bought your first park that you wish you had been aware of? (2) Also, for those most recent park owners that have closed within the past year or so, have the attractive features of the asset as touted by Frank, Dave et al., e.g. stable payers/limited delinquency, ability to tolerate market rent increases, relatively “passive” operating asset, 3-4% cap rate spread vs financing, etc., remained true? Or, were there some surprises?
Any help the community can afford would be really appreciated.