Due diligence can be the best money you spend on a mobile home park. However, it can also become a black hole if you keep paying for more information without deciding what the answers mean for the purchase. Each piece of information needs to help answer one question: Do I still want to buy this park? The time and money already spent aren’t reasons to keep going when the information no longer supports the deal. I’m prioritising the checks that could give me a reason to stop early, before committing more money: 1) Legal operation. Is the property zoned for a mobile home park, and does it have the required operating approvals? Are there outstanding violations? 2) Legal and usable pads. Does the approved pad count match what’s advertised? Can homes be replaced, and can vacant pads accommodate them under the applicable requirements? 3) Flood and obvious site risks. What do available records show about flooding, drainage and past uses? Are there concerns that need investigating immediately? 4) Title, boundaries and access. Are there restrictions, easements or encroachments that could affect how the park operates? 5) Income and expenses. Do the rent roll, collections and supporting records back up the advertised income? What costs would I need to add or adjust as the new owner? 6) Infrastructure responsibilities. What systems would I own and maintain, and what problems are already known? 7) Environmental and physical assessments. If the earlier checks support moving forward, commission the environmental, infrastructure and equipment assessments. A known concern would move up the list. I need to be ready to walk away after paying for due diligence. It can still be money well spent. The harder mistake would be buying because I feel I’ve already spent too much to stop. For experienced MHP buyers, what finding made you walk away after you’d already invested time and money?