I am a real estate investor, but brand new to mobile home parks. I have an opportunity to buy 2 acres for less than 20k, about 30 miles from a very large city. Currently, there is one mobile home on the acreage that is being rented for $700/mo. The seller has electric ran to three more “lots” that don’t quite exist yet. He has two septic tanks installed. Water only to the first home. The land has been completely cleared. There are no building restrictions. Dept of health just says there can only be two homes per septic tank.
Should I buy and build, or should I invest in a park that already exists?