Sonos Capital
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Digest Vol. 4 · The MHP Capital Digest | Volume 4

Field Observations — Lessons from Veteran Dealmakers

Common broker traps, and the discipline of walking away.

1. Common Broker Traps

  • Pro-forma expense ratios: be skeptical of listings claiming sub-25% expense ratios on master-metered parks.
  • Ghost pads: confirm advertised pad counts are legally permitted, utility-connected sites — not unpermitted grass lots.

2. The Power of Discipline

The most profitable real estate decisions are often the contracts you walk away from when diligence uncovers unfixable environmental or municipal risk.

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Operations Deep Dive — Winterization & Utility Submetering

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Infill Economics — Scaling Community Net Operating Income

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