Have any of you entered into a lease with option to purchase a MHP? We are looking at that possibility and would greatly appreciate any information about the conditions of the lease/option. We assume the master lease would provide for the current owner to receive the same net (after fixed expenses) income as the present NOI shows. We, as the lessees, would pay for all park expenses (except perhaps property taxes) and improvements and keep excess rental income above said expenses. Lease periods would likely range from 2-5 years+.
Les & Ellen Bick