I have just begun looking into mobile homes as opposed to regular properties. I found a 6 lot property with 1 POH. There are separte utilities for each lot. 5 lots are vacant and have been for 2 years due to the owner having other businesses. There is one other park in the area that rents are at $125/month. These rents havent been raised on 15 years. That is my next deal to work on.
The owner wants $50K for the property. The 6 lots sit on 0.3 acres. Is that a good price?