I would highly recommend investing that cash instead in a downpayment on a single family home here in one of the southeast valley's amazing active adult communities! I have two in mind that are just going crazy with sales right now, and are definitely not suffering from the current housing market blues. Prices start in the 160's....so your mortgage payment would not be much higher than the lot rental at the MH park! I realize that you have a budget in mind, but I want to be sure that you are aware of the values available here in AZ in the active adult world.
If you are interested, drop me a line and I can give you specifics.