We have them ourselves in Michigan (4) and also in Florida (2) recently. Nothing new as they have been around for many decades already. A few things to remember that involve costs etc that may be high or low at various locations. We own and have owned several such RV properties where you can spend/occupy zero to 365 days a year on or even rent them out to others. If we rent them out, we get the full rent paid but if the association rents them out for us, we may get 50% to 67% of the rent amount paid. A big difference. You usually are not there when it's rented out. May be very wonderful renters or may even be druggies etc.
Cost to purchase (of course).
Yearly dues or some have monthly dues or fees (not to be confused with property taxes).
All owned and deeded propeerties have property taxes that must be paid.
All require keeping the property in good upkeep conddition wheter you are on it or not. If not occupying your property, you still must keep it up which usually means paying ssomeone else to do it for you.
All have rules or convenents or HOA's etc.
You are responsible for all utilities, costs and bills accrued, maintenance/upkeep there of, liability etc insurance/insurances(can get real sticky if rented out), you bear the cost of repairs etc caused by you or your renters, whether you are on the property or someone else is renting it. You OWN it!
Remember that the property is a fixed location and you can't move it but you can sell it if must you don't like your neighbors or the costs or rules become more than you are willing to deal with or shuck out for them. Costs will only increase with time and virtually never decrease and guess who will be paying them! What can you actually sell it for in a present at the time market condition? Over the years since the 1980's we have sold 4 such RV condo properties and done very well but it's certainly not guaranteed.
Can be a very good venture or a very bad venture and of course, many ventures do fail, some quickly and some over a long time. Some also increase in value and resale $$$ so it's wise to research thoroughly and know what you are getting yourself into. Laws, codes, and rules vary greatly from state to state and counties/areas also.
