Last year I inquired about a mobile home park. The asking price was 649,000. There are 58 lots in which 42 are rented. The trailers are owned not by the park but the tenants. Lot rent is 118 and most take the storage building at 12 extra per month (required to use their storage building). The streets and parking spots and pads are all concrete. There is public water but no public sewage as it has it’s own sewage plant.
What would the value be on this park? If I do not get certification to operate the sewage plant then how much would my cost be to have someone else operate it? Is there any type of insurance that one can get in case the sewage plant would no longer be allowed to be operational in the future or need serious upgrade?