I was offered one lot and with a mobile home on it in a mobile home park that is governed by an HOA, so it is not privately owned… Long story but I only need to pay $4000 for back taxes and it is mine. The lot is in a good park and is 1/4 acre in size. The Mobile home on the park is a single wide, and is in satisfactory condition needing skirting and entry stairs. Comparing the lot and mobile home to others in the park it is in the bottom 10%. I looked up recent sales in the park and they are averaging sales of around $70k.
I am either wanting to sell the mobile home and rent the lot or buy it and sell it asap.
Is this a deal I should go for? Should I rent the dirt or sell asap after purchase. Are there any red flags I should be aware of, especially in dealing with a single lot in a MHP not privately owned? I would be very grateful for any advice. Thank You.