Lonnie "Renters"

As I look into buying my first park, I’m looking for a little input. I’ve come across a park that is 52 total spaces. Of the 52 spaces, 1 guy owns 17 of the homes, another guys owns 7, a third owns 3 and the park owns 12. The guy that owns the 7 homes wants to buy the 12 POHs. Net, net, 3 guys would wind up owning 39 of the 52 homes. My gut tells me this is way too risky. Is there anyone out there that would buy this deal at a 10 Cap? If so, help me calm my nerves (this alone will probably make me walk the deal but I’m interested in hearing other thoughts).