Small park to assign in MI

So here’s the deal details

I am looking to wholesale a small mobile home park in a small-town of Michigan.

*this is a “clean” park (aka- no park owned homes or onsite management)
*6 acres with 15 spaces- 7 occupied (owner occupied homes) and 8 vacant spaces already metered for electric
*electric is separately metered at each home
*water system: well and city sewer. (this size park does NOT have regulations and testing requirements for the well water) there is also a backup well
*lot rent: $210/mo (this is a little low for the area and has not been any increase in years)
*established: 1994

  • less than 20 minutes to Walmart
    *long term tenants
    *expenses 40-50% including: taxes, insurance, Lawn/Snow service, utilities, sewer and garbage
    *‘family business’ (mom and pop) that had health problems and never put any effort into marketing or adding homes. aka- it’s been maintained but not reached potential

let’s talk Numbers: (and see attached)
purchase price $80k (cash at closing)
returns $9-10k + annually
COMPARE that to a single family rental property!!!
lots of room to add value to this park- the area needs affordable housing.

Where in Michigan is this located?

Up in the “Thumb” about half an hour from Bay City