One of the biggest problems is financing. Unless you're a cash buyer you'd have a very difficult time securing financinig for a PRE HUD home. Additionally, most pre HUD mobile homes were built with various caustic and carcinogenic chemicals i.e. formaldehyde and asbestos.
If it is in a manufactured home rent/lease park/community I would suggest you start with the park manager of the park/communities you are interested in. You will have to fill out an application and be approved by them before you even make an offer on a manufactured home in a rent/lease park/community.
Be wary of any manufactured home built before June 15, 1976 as they are "PRE HUD" homes and will be very difficult if not impossible to finance. Additionally many if not most PRE HUD homes were built using caustic and carcinogenic chemicals i.e. formaldehyde and asbestos.
But before you purchase any manufactured home you should have the home inspected by an experienced manufactured home inspector and not just any home inspector.Make sure the home is level and that the pier and pad assemblies are in good shape.
Be sure the vapor barrier and insulation are in tact and not ripped, torn or lying on the ground. Have the inspector look for drainage issues i.e. standing water, soil erosion, expansive (clay soil), rusted and deteriorating piers and dry rotted or decomposing wood pads supporting the piers.
Most importantly make sure the home has an approved set of Earthquake Resistant Bracing (ERBS) installed under it as much of California is in a Zone 4 seismic area:
This manufactured home is located in the Voyage West Mobile Home Park in Santa Cruz CA. The space rent is in the range of $337 to $375 per month. Each lender will have a specific set of procedures which must be followed precisely. Your REALTOR can guide you through this process as you should be aware that there are more risks involved in purchasing distressed properties. I just checked the MLS and currently there is one home for sale in this park. It is MLS No. 81238035 and the asking price is $159,000. If I can be of any further assistance to you in this process, please do not hesitate to contact me: http://santacruz-properties.com/ContactMeInformationFrameless . Merry Christmas! Peter Benedikt, Century 21 Lad Realty.