As I look for my first mobile home park in BC or Alberta, I’m getting clearer on the reasons behind my buying criteria. Each item reflects a responsibility or risk I’m willing to take on. Here’s what I’m looking for and why: - Municipal water and sewer: I want to limit the operational responsibilities, unforeseen costs and liability associated with private utility systems. I’d still need to understand where the municipality’s responsibility ends and mine begins, including the condition of the park’s piping. - At least 80% tenant-owned homes: I like the idea of residents having an ownership stake in their homes, although I wouldn’t assume that guarantees good upkeep. It also limits the number of homes I’d need to buy, maintain and eventually replace. - Low vacancy: I want the purchase to make sense based on the income that exists today. Filling empty pads takes money and time, so I’d want to understand those costs before assigning value to the upside. - Pride of ownership: I’m looking for evidence of ongoing care in the grounds, roads and homes. Appearance gives me a starting point; inspections help establish what work might be coming due. - Straightforward revenue: Multiple revenue streams can be attractive, but each operates differently. I’m focusing primarily on pad rent while I learn the mobile home park business, before considering additional activities. - A stable local community: Employment, school enrolment, retailers and access to healthcare give me a starting point for understanding what supports long-term demand. For my first park, I’m looking for predictable operations and a workload I can manage. These criteria help me focus my search and identify what I need to investigate before buying. For experienced owners, which of these criteria has mattered most in practice, and which would you be comfortable relaxing?