Core acquisition focus
Manufactured-housing communities built on affordability demand
Mobile-home communities fit the XitSource thesis when they combine recurring lot rent, durable workforce housing demand, limited replacement supply, and a basis supported by current operations.
Last reviewed: September 2026
Why this fits the XitSource thesis
Affordable housing demand can remain durable where conventional rents and homeownership costs are elevated.
Recurring lot rent creates visible current cash flow.
New competing community supply is often constrained by zoning, land cost, and infrastructure requirements.
Operational improvement can come from collections, expense control, infill, utility management, and community standards.
What we look for
- • Existing communities with stable occupancy and collectible lot rent.
- • Workforce-oriented markets with diversified local employment.
- • Communities with under-managed collections, utilities, expenses, or vacant-pad infill.
- • Private utility systems only when infrastructure condition is well understood.
- • Reasonable tenant-owned-home concentration and manageable park-owned-home exposure.
- • Purchase basis that supports capital reserves and long-term ownership.
Market screen
- • Housing affordability pressure relative to local wages.
- • Stable or growing employment across several sectors.
- • Limited competing manufactured-housing community supply.
- • Reasonable municipal, utility, insurance, and regulatory environment.
- • Durable resident demand rather than speculative redevelopment value.
- • Existing cash flow that works before major rent repositioning.
What makes us cautious
- • Communities requiring large unquantified utility-system replacement.
- • Aggressive underwriting dependent on immediate rent shocks.
- • High park-owned-home exposure without a clear operating plan.
- • Markets with weak employment or falling household demand.
- • Deals priced mainly on redevelopment or conversion value.
Have an opportunity that fits?
Start with a high-level description of the asset, location, financial performance, ownership situation, and transition goals.