I am close to sign a contract for a mobile home park with 6 lots established on a three parcel land in North Carolina. . Each lot has city provided water/electricity/sewer/garbage billed directly to the tenant. Three of the six lots is rented to tenants who bring their own mobile home and the rest of the lots are empty ( i.e. no mobile homes are owned by the owner).
Current total income per month : $600 ($200 rent per lot )
Asking price : $35K.
If i fill remaining 3 lots,total income per month will be around $1200.
I would like to get guidance on
- How to verify the land (0.3 acres ) is zoned for Mobile home park ?
- Referral for a closing attorney or escrow company licensed in North Carolina
- Referral for a property manager in Raleigh area
- The deal seem too good to believe. Any gotcha i should be aware of ?
Appreciate your help for this newbie.