I am heavily considering starting a small MHP within the next 6 months.
I do not have the capital to buy one.
I would like to buy a mobile home with land. I already have my tenant (family member who is okay with this scenario).
Use the income from the one mobile home (park owned) & myself to buy more mobile homes to put on the land within the next 2-5 years. Hopefully, I can build it up to 8-12 mobile homes.
1.) What are the pitfalls in doing this that I may not be considering? (besides getting tenants & handling maintenance of course)
I checked zoning for the area I am looking at. It does not have a zoning label. It’s currently a mobile home, so I would think that it’s grandfathered in anyways. There is also a mobile home park a few hundreds yard down the road.
2.) Is there a difference between zoning of a mobile home & a mobile home PARK?
Thanks for your feedback.