MHP Purchase Decision


#1

I saw an ad in yesterday newspaper for a MHP with 5 MH’s along with an acre of land for $75k. I went to look at it today. The MH’s are empty. They have been recently painted. The owner said that all roofs have been kool-sealed. They are older, smaller MH’s. I have seen worse. The MHP is next to a creek. Each MH is metered and on sewer. The utilities were off so I could not check anything

My immediate reaction is to sell the MH’s as is and rent the land. I am concerned about the liability of the creek as to people drowning and the park flooding.

What do you think about the price and/or situation?