Any idea on what the cap rate should be in this area?
@parkdreams The Boston/southern NH area is a high growth, aflluent area and as a result you can expect cap rates to be lower than average. The quality of the park will also have a lot to do with it, but I think a 10 cap in the midwest would be an 8 or so in the metro Boston area.
Not sure of the law - you will want to investigate yourself - but NH also has laws that require you to make a good faith effort to sell the park to your tenants (or I should say give them the option to form a coop) before you can sell it to a third party. Might affect your exit although as I said you will want to investigate further by calling the state MHA or consulting with a lawyer.