How to Find a CPA Who Specializes in Mobile Home Parks

By Harry Shurek, EA | The MHP Accountant®

You own a mobile home park. You have lot rent coming in, park-owned homes on a depreciation schedule, maybe a utility system you bill back to residents. You hand your records to a generalist CPA and get back a return that treats every POH like a residential rental and parks everything on Schedule E with a 27.5-year life across the board.

That return is probably wrong. More importantly, it’s costing you money every single year.

This post walks you through exactly what to look for — and what to avoid — when hiring a CPA or tax professional for your MHP business.

Why a Generalist CPA Falls Short for MHP Owners

A generalist CPA is not a bad professional. They handle hundreds of clients — W-2 employees, retail businesses, small landlords. Their software handles standard asset classes and standard rental income without any special configuration.

Mobile home parks are not standard. The asset mix, the income streams, and the depreciation rules are fundamentally different from a single-family or multifamily rental. Without MHP-specific experience, a preparer defaults to the nearest familiar category — and that category is almost never the right one.

Here are the specific areas where generalist preparation breaks down for MHP operators:

• POH depreciation lives: Park-owned homes are personal property under MACRS, not 27.5-year residential real property. The correct life is typically 5 or 7 years depending on classification. A preparer who doesn’t know this will cost you years of accelerated deductions.
• Cost segregation: A proper cost segregation study on an MHP can reclassify a significant portion of the purchase price into shorter-lived asset classes — land improvements, personal property, infrastructure. Most generalists have never ordered or reviewed one for a park.
• Mixed personal/real property in a 1031: Post-TCJA, personal property (POHs) does not qualify for like-kind exchange treatment. A 1031 on an MHP with a large POH portfolio requires careful allocation. Many preparers don’t know this distinction exists.
• Passive activity nuances: MHP operators who are actively managing their parks may qualify for real estate professional status or the active participation exception. The rules interact with how management company income is structured. Generalists often miss the planning opportunity entirely.

Questions to Ask a CPA Before Hiring Them for Your Park

Before you engage any tax professional for your MHP, ask these questions directly. The answers will tell you immediately whether they have genuine MHP experience or are willing to learn on your dime.

1. What depreciation life do you use for park-owned homes?

The correct answer is 5 years under MACRS (or 7 years in some cases), not 27.5 years. POHs are personal property, not residential real property. If the preparer hesitates or says “27.5 like any rental,” that is a red flag.

2. Have you handled an MHP cost segregation study?

They should know what cost segregation is, why it applies to MHPs, and how the study results flow into the depreciation schedule. Bonus: ask whether they can recommend an engineering firm that specializes in MHP cost seg studies.

3. Have you structured a 1031 exchange with mixed personal and real property?

Post-TCJA (2017 Tax Cuts and Jobs Act), only real property qualifies for Section 1031 like-kind exchange treatment. POHs are personal property. A seller with a large POH inventory needs to understand the allocation and the tax exposure on the personal property side. An MHP-experienced preparer knows this cold.

4. How do you handle RUBS income and submeter utility billing on the return?

Utility pass-through income — whether via RUBS or submetering — is taxable revenue that must be reported gross. The matching utility expense is deductible. A preparer who nets these out or doesn’t know the difference doesn’t understand MHP income structures.

5. How do you handle the management company structure for a multi-park operator?

Sophisticated MHP portfolios use a HoldCo/OpCo/park LLC structure. Management fees flow from park entities to a management company (often an S-Corp) to separate passive rental income from active management income for QBI and SE tax purposes. Ask if they’ve worked with this structure.

Red Flags to Watch For

Some warning signs are subtle. Others are obvious once you know what you’re looking for.

• Everything on Schedule E with no separate entity returns: If you’re operating through LLCs and they’re filing everything on a single Schedule E with no Form 1065 or 1120-S, something is wrong with the structure or the return.
• All assets on 27.5-year life: Look at your depreciation schedule. If every asset — land improvements, utility systems, POHs, office equipment, storage structures — is showing 27.5-year life, the preparer didn’t do an asset-class analysis. They used the default.
• No bonus depreciation elections: Under current law, bonus depreciation applies to qualifying personal property and certain land improvements. An MHP is full of these assets. If there’s no bonus depreciation on the return and no election statement explaining why, ask why.
• No knowledge of Section 1245 recapture: When you eventually sell your park, the depreciation you took on personal property assets is recaptured at ordinary income rates under Section 1245. A preparer who hasn’t discussed this with you doesn’t understand the full tax lifecycle of your investment.

CPA vs EA: What’s the Difference for MHP Work?

Both CPAs (Certified Public Accountants) and EAs (Enrolled Agents) are licensed to represent taxpayers before the IRS and prepare all types of tax returns. The distinction matters less than MHP-specific experience.

Here is a quick comparison:

An EA with deep MHP experience will serve you better than a CPA who has never seen a rent roll. The credential is secondary to the specialization. What you need is someone who has worked through the depreciation schedules, cost seg results, entity structures, and exit planning that define MHP ownership — regardless of the letters after their name.

Where to Find an MHP Tax Specialist

The MHP industry is a niche within a niche. Tax professionals who specialize in this space tend to be known within the operator community rather than found through general directories.

The best sources:

• MHP investor conferences and networking groups: The operators you respect use someone. Ask directly.
• MHP-focused Facebook groups and forums: Communities like MHU (Mobile Home University) alumni groups have recommendations.
• Your lender or broker: Commercial lenders and brokers who specialize in MHP transactions see a lot of returns. They know which preparers produce clean, lender-ready financials.
• Direct search: Search specifically for “mobile home park CPA” or “mobile home park tax” rather than generic “real estate CPA” — the latter category is dominated by single-family and multifamily specialists who may not have MHP experience.

What to Expect From a Specialist Engagement

An MHP tax specialist engagement looks different from a general CPA relationship. Here’s what you should expect:

At onboarding, you’ll provide a current rent roll, entity documents, prior-year returns, depreciation schedules, and any existing cost segregation studies. The specialist reviews these before the first meeting — not to bill hours, but to identify structural issues that need to be addressed before the next filing.

The engagement should include proactive planning, not just return preparation. The tax strategy decisions for your park — bonus depreciation elections, repair vs. capitalize classifications, entity structure, exit timing — happen during the year, not at tax time. A specialist should be reaching out to you with planning opportunities before December 31.

You should also expect clear communication about depreciation recapture, 1031 exchange mechanics, and the long-term tax implications of your current structure. These are not surprises that show up at sale — they are knowable in advance and should be part of your ongoing planning conversation.

Frequently Asked Questions

Disclaimer: This article is for general informational purposes only and does not constitute tax, legal, or financial advice. Tax laws change frequently and individual circumstances vary. Consult a qualified tax professional before making any decisions based on the information contained herein. The MHP Accountant® is a tax preparation and advisory firm; nothing in this article creates a client relationship.