30 space park, and three houses. One of the family members selling the park lives in one of the three houses. She is 82 years old. She wants to stay in the house until she dies. Then I would get possession of her house and I can rent it out.
The purchase price is still a good deal without considering rent from that house. Rent for the house is worth $800+ a month. If she lives another 10 years, that is worth $96,000. You could say I’m paying an extra $96,000 for the park. I don’t want to acknowledge the cost if she lives to be 100. The house is not worth that kind of money.
We need to address who is responsible for home maintenance issues. I’m not inclined to pay them if she is still living there. Her lease to live there would require her to follow all the same rules of the park.
What are your thoughts?