Well done Errin! A massive win! Look to get rents to market prior to executing infill strategy. Start infill slowly to gauge market demand before going all in (one home, see how it goes, infill second home). Ive seen too many people sell homes at a significant loss and be in the hole because of a poor home buyer market.

@Joseph Jackson i dmed you separately

Plenty of reasons why you would want to purchase the LLC rather than the Park itself, the first being tax reassessments if the municipality reassesses upon sale. You may also be able to avoid State transfer taxes levied on Real Estate sales. This is most certainly a question for an attorney, but on the liability side if there were any pending litigations or prior negligent / illegal actions taken by that LLC, you may inherit those problems. If you’re going to buy the LLC rather than the property and transfer into a new LLC, then you’ll need to ensure that the contract states that any liabilities / events prior to the date of transfer are wholly the responsibility of the seller and the seller will indemnify buyer of any and all of liabilities arising from an event prior to the sale.

Welcome aboard Errin! Let us know if you have any questions!

@Errin Ford I love to see members connecting!