Any reason why one would buy a park next to a active train track or should we walk away from the deal? So far things look good. This is the first red flag. Thanks!
There is just such a park near one of mine. It is my opinion that that park suffers more from bad management, than from the trains. (Vacant lots, and homes with out skirting are not caused by trains.)
Just verify your rent roll. As long as the residents are really there and paying rent, then you know the trains can’t be that much of an issue.
My 2 cents worth,
We have a park in Kentucky in which one entire street has a railroad track behind it, and it has more occupancy than any other street. Personally, the noise would drive me crazy, but the trade off is that those lots have no immediate neighbors on two sides, and a quiet field behind them except those few moments when the train goes by.