Park owned homes vs Tenant owned homes

We have 2 parks totalling 57 lots. All are tenant owned homes. If we buy the homes or gain the homes as tenants leave, and rehab and rent, our income increases from $400 lot rent to $1000-$1200 rent. Of course, there is more work with upkeep etc, but the income would be significant.
With park owned homes, a valuation based on income would increase the appraised value of the parks.
Am I correct?

A valuation based on income would technically increase the value of the park. However, mobile home parks are valued on lot rent. So you’re not going to get an increase for converting something to a tenant owned home. Over time, you’ll fine the POH are not profitable due to repairs, etc. the rents won’t support it.

Thank you for the info.

Yes,you are correct!