Has anyone had luck subdividing a stickbuilt SFR or multiunit out of a MHP parcel? I'm considering this on 2 deals, where I go in and buy, subdivide and rehab the stickbuilts and sell the stickbuilts...keep the MHP.

Wow we got a PSA back. That was completely redlined. We were like no.

When underwriting POHs and working stabilization to convert those to RTO, what is a realistic ratio of homes to convert? Currently looking at a park with 14 POH, is it too ambitious to think half of these can turn RTO in 5 years? What are people's experience with converting to RTO, any tips or strategies? I understand this depends heavily on the tenant base, income etc.

One of those Florida deals I recently dropped is still on the table and I would like to see if somebody wants it for a fee. Solid parks with good infrastructure 55 lots filled all poh avg $850, 4/2 brick house on 5 acres plus another 16/80 on it’s own lot on a Main Street. Seller carry at 5% , 3.2m 20% down, 30yr amm and 5 year balloon. Greater Pensacola market. City water and sewer billed back with manual read meters installed. Dumpster trash. I think I have 3 years financials, rent roll etc. Almost all Poh have central air. The park units are all rented and the side mh is also rented. Most renters are long term. The house is currently used as an office but is rentable as is. County has approved 10 expansion lots on the 5 acres.

How do we feel about holding tanks?