Who should own the mobile homes?


#1

I am investigating a small park. It turns out that 5 mobile homes (out of 17) belong to an investor who lives in the park (free lot), also manages the park, and rents the five homes. Is this a good scenario? It seems that too much is tied to one person. It does take the maintenance headaches out of the owner, but ultimately, the homes are not own by the person living in it, meaning they might have the renter’s mindset and not upkeep the homes like an owner would. The park seems to have upside potential and there are many things that can be turned around. However, this particular scenario concerns me. What’s your take?