I think they are a great start. Especially with so.eone that has limited capital and with property prices as of now.
Save up enough to buy on used on the cheap fix it up and get a park to pay to move it in there then rent it
You spend like 10 20k and can get a 1000 dollar rent check or more depending on the area. What it takes a hit in depreciation it makes up for with ease of access for newbie landlord think of it as training wheels as week for bigger propertys cause if you screw up with this one. At least its paid off is number one and number two at least it was only 10k. Not 50k plus any equity you lost from not knowing what your doing.
Save half the cashflow and put it in the market and over time withdraw that nest egg to buy land for the property to put it on and it now becomes a normal house by many standards and in a lot of cases appreciates.
I think it is a brilliant way to start landlording. There easy to pay off and get a hold of they have less large expensive maintenance problems because of there nature( be wary that doesn't mean there are no expensive problems that is relitive). And great for learning wtf your doing without risking your shirt and spending all of your life savings and figuring out if being a landlord is even for you if your new.
I personally love most landlords dont touch them because they bring income and rental income appreciates and allows me to increase my cashflow for bigger and better things.
At the end of there life you can owner finance them as well with land appreciation after its put on land that owner finance will give a sweet income without having to work for it at much when you retire
This is at least my thoughts on mobil homes.
Keep it a secret though dont want competition getting fierce now ya hear haha
However with a 545 hoa I wouldn't do this one.
You still want to try and follow the 50 percent rule with that you would need to rent it for the very least of 1100 to really break even or around 1300 if you want some cash