EXHIBIT 1

Survey of Mobile Home
Communities
Broward, Palm Beach
& Miami-Dade

March 9, 2005

Mr. Todd Rosensweig
Square Lake Group
1750 Telegraphs #301A
Bloomfield Hills, MI 48302

Dear Todd:

I have completed my third survey of the South Florida mobile home parks to determine the number of vacant sites within a 50 mile radius of Coral Lake. This includes parks in Broward, Palm Beach, and Miami-Dade Counties.

My first source was an analysis of the JLT survey of 95 parks in the three counties, made in May 2004. This Survey showed:

A direct mail survey was made in three mailings to 500+ parks in the three counties. There were a total of 18 parks responding:

Copies of the JLT Survey and a spread sheet showing the parks evaluluated in both surveys is shown in the attachment to this report.

Sincerely,

Edward Hicks
President

cc: Howard Steinholtz

	3/9/2005 Community	Total Sites	Occ. Sites	Vac. Sites	% Vac.	Low Rent	High Rent	Ave Rent	Services Incl. Est. Val. Of Ser.	Taxes & Other Charges
1	Aztec	645	478	167	25.9%	$529	$529	$529	T/M-$38
2	Palma Nova	943	827	116	12.3%	$395	$405	$395	T-$29
3	Sunset Colony	230	145	85	37.0%	$398	$424	398	W/S/T/M-$62
4	Coral Cay	819	737	82	10.0%	$480	$508	480	T/M-$38	M P/T $37.14 not included
5	Country Lakes	499	454	45	9.0%	$505	$517	$511	T-$15
6	Tallowood Isle	262	211	51	19.5%	$450	$505	$460	T-$23	P/T $280.70 not included
7	Sunshine	356	326	30	8.4%	$516	$537	$525	T/M-$44
8	Rexmere	774	735	39	5.0%	$506	$540	$506	T-$29	A P/T $477.65 not included
9	Western Hills	405	378	27	6.7%	$445	$485	$485	T-$29.16
10	Pine Tree Park	317	293	24	7.6%	$441	$476	$441	T/M-$38	A P/T $231.84 not included
11	Kings Manor	314	296	18	5.7%	$534	$534	$539	T/M-$44
12	+Country Knolls	389	315	74	19.0%	$458	$458	$458	W/S/T-$44
13	+Deerfield Lake	346	327	19	5.5%	$424	$462	$452	T/M-$38
14	Paradise	452	433	19	4.2%	$529	$550	$529	T-$29
15	+Highland Village	277	221	56	20.2%	$458	$458	$448	W/S/T/M-$59
16	+Seminole	235	219	16	6.8%	$393	$399	$399	T/M-$38	A P/T $153 not included
17	Sunshine City	350	346	4	1.1%	$350	$350	$350	None
18	Cheron	202	190	12	5.9%	$620	$620	$620	T-$23
19	Hollywood	753	741	12	1.6%	$423	$433	$423	T-$23
20	+Breesy Hill	168	157	11	6.5%	$447	$508	$478	T/M-$30
21	Coral Lake	235	225	10	4.3%	$466	$505	$466	T/M-$38	M P/T $57.82 included
22	+Rancho Margate	245	236	9	3.7%	$446	$457	$446	T/M-$38
23	+Everglades Lakes	639	631	637	99.7%	$411	$451	$426	T/M-$44
24	Pan American	239	232	7	2.9%	$450	$450	$450	T/M-$44
25	Sunshine Holiday	272	265	7	2.6%	$430	$430	$430	M-$15	M P/T $10.67 included
26	+Hillsboro	184	179	5	2.7%	$460	$505	$460	T/M-$38	$371.86 not included
27	Carefree Cove	164	160	4	2.4%	$442	$481	$463	M-$15	M P/T $32.24 not included
28	+Cypress Creek	156	153	3	1.9%	$425	$425	$425	T/M-$44
29	Orange Brook	230	227	3	1.3%	$410	$420	$410	M-$15
30	+Golf View	287	285	2	0.7%	$430	$430	$430	W/S/T/M-$59
31	+Havenwood	120	118	2	1.7%	$443	$464	$454	W/S/T/M-$59
32	+New England	145	143	2	1.4%	$318	$333	$333	T/M-$38
33	Okomo	179	177	2	1.1%	$400	$400	$400	W/S/T-$60
34	Haven Lake	518	517	1	$405	$405	$405	None
35	Willow Lake	386	344	42	10.9%	$430	$430	$430	T/M-$44
36	+Village Park	307	307	0	0.0%	$441	$453	$443	M-$15
37	Imperial	261	261	0	0.0%	$440	$440	$440	M-$15
38	Holiday	206	206	0	0.0%	$420	$430	$420	W/S/T-$53
39	+Lake Eden Gardens	140	140	0	0.0%	$409	$440	$409	T/M-$44
40	+Ocean Waterway	104	104	0	0.0%	$382	$382	$382	W/S/T/M-$66	M P/T $91 included
	Broward Sub Total	13,753	12,739	1,643	11.9%

	3/9/2005 Community	Total Sites	Occ. Sites	Vac. Sites	% Vac.	Low Rent	High Rent	Ave Rent	Services Incl. Est. Val. Of Ser.	Taxes & Other Charges
1	Goldcoaster	548	325	223	40.7%	$301	$311	$301	T-$29
2	Isla Gold	228	42	186	81.6%	$325	$325	$325	W/S/T/M-$87
3	+Pine Isle	260	80	180	69.2%	$235	$265	$245	T-$31
4	Princetonian	280	215	65	23.2%	$234	$242	$237	T-$29
5	Palm Garden	275	213	62	22.5%	$279	$270	$279	T-$31
6	Boardwalk	215	155	60	27.9%	$321	$361	$321	M-$15
7	Aquarius	187	175	12	6.4%	$330	$330	$330	M-$15
8	Silver Palm Place	109	99	10	9.2%	$202	$225	$212	M-$15
9	+Riviera Park	162	159	3	1.9%	$220	$225	$220	T/M-$44
10	University Lakes	1,153	1,153	0	0.0%	$445	$545	$480	T-$27
11	Lil Abners	908	908	0	0.0%	$385	$395	$385	T-$27
12	Royal Country	864	864	0	0.0%	$420	$449	$420	T/M-$44
13	Courtly Manor	525	525	0	0.0%	$444	$454	$444	T/M-$44
14	Honey Hill	438	438	0	0.0%	$315	$345	$315	T/M-$44
15	Colonial Acres	296	296	0	0.0%	$420	$425	$420	None
16	Blue Lake	278	278	0	0.0%	$435	$455	$435	W/S/T-$82
17	Palm	166	166	0	0.0%	$285	$285	$285	W/S/T/M-$97
18	Medley	160	160	0	0.0%	$398	$428	$398	W/S/T/M=$97
19	Wynken, Blynken & Nod	150	150	0	0.0%	$416	$446	$426	T/M-$44
	Miami-Dade Sub Total	7,202	6,401	801	11.1%

	3/9/2005 Community	Total Sites	Occ. Sites	Vac. Sites	% Vac.	Low Rent	High Rent	Ave Rent	Services Incl. Est. Val. Of Ser.	Taxes & Other Charges
1	A Garden Walk	484	406	78	16.1%	$441	$441	$441	W/S/T-$43
2	Meadows	380	326	54	14.2%	$444	$448	$444	None	M P/T $85.06 not included
3	+Maralago Cay	602	553	49	8.1%	$512	$533	$512	W/S/T/M-$53
4	Colonial	326	291	35	10.7%	$451	$451	$451	T-$15
5	Lake Worth	826	801	25	3.0%	$477	$477	$477	W/S/T-$45
6	Sand and Sea	604	582	22	3.6%	$442	$442	$442	T-$11
7	Meadowbrook	500	479	21	4.2%	$321	$327	$321	W/T-$34
8	+The Southern Court	145	130	15	10.3%	$253	$334	$277	W/S/T/M-$49
9	+Ramblewood	125	123	2	1.6%	$300	$300	$300	W/S/T/M-$49
10	+Masa Verde	300	287	13	4.3%	$365	$375	$370	W/S/T-$38
11	Whispering Pines	304	293	11	3.6%	$416	$426	$416	T-$14	A P/T $116.38 not included
12	Casa Del Monte	657	647	10	1/5%	$450	$450	$450	S/T-$34
13	+Palm Beach	330	320	10	3.0%	$295	$295	$295	W/S/T-$38
14	Longlake	134	125	9	6.7%	$454	$474	$454	W/S/T/M/C-$104
15	Lakeside Palm Beaches	259	251	8	3.1%	$362	$362	$362	T-$18
16	+Ocean Tide	238	230	8	3.4%	$272	$272	$272	W/S/T-$34
17	Palm Beach Colony	285	277	8	2.8%	$358	$403	$358	T-$18	M P/T $29.31 & .33 included
18	Pickwick Park	369	361	8	2.2%	$425	$425	$425	S/T-$30
19	Akers Away	152	149	3	2.0%	$380	$380	$380	T-$18
20	+Kokomo	161	155	6	3.7%	$331	$331	$331	W/S/T/M-$53	A P/T $193.00 not included
21	+Lantana Cascades	462	456	6	1.3%	$425	$425	$425	None
22	+Sunny South	319	314	5	1.6%	$445	$495	$445	T/M-$26	A P/T $.80 not included
23	Holiday Plaza	266	256	10	3.8%	$383	$383	$383	T-$18
24	Palm Beach Plantation	214	210	4	1.9%	$442	$481	$442	T-$15
25	Holiday Ranch	227	224	3	1.3%	$372	$372	$372	T-$18
26	+Palm Breeze Club	189	187	2	1.1%	$450	$475	$450	T/M-$29
27	Taraves Cove	377	375	2	0.5%	$365	$375	$365	W/S/T-$48
28	+Greenacres	75	74	1	1/3%	$300	$300	$300	W/S/T-$38	A P/T $165.00 not included
29	+Happy Landing	44	43	1	2.3%	$362	$362	$362	T-$18
30	+Sunshine	170	169	1	0.6%	$350	$375	$350	T/M-$30
31	+Royal Manor	437	437	0	0.0%	$434	$459	$434	W/S/T/M/C-$79	A P/T $157.56 not included
32	+La Poloma	235	235	0	0.0%	$385	$485	$385	W/S/T/M-$55
33	Hilltop Gardens	160	160	0	0.0%	$375	$375	$375	T/M/C-$59
34	Brairwood	144	144	0	0.0%	$403	$403	$403	T-$15
35	Holt's Lazyland	131	131	0	0.0%	$275	$285	$285	T-$15
36	+Sunny Sands	$104	$104	0	0.0%	$410	$523	$444	W/S/T/C-$66
	Palm Beach Sub Total	10,735	10,305	430	4.0%
	Total Vacancies	31,690	29,445	2,874	9.1%

The 18 communities shown in bold are verified by fax or telecon

Web Master: Our best guess for the codes is . . .