Multi-family vs. Mobile Home Park Investing over a 5 Year horizon

[Kusum Chanrai]

Hi everyone! 

For the last year, my goal was to buy a multi-family property. I selected a few markets, and has 3 deals under contract - but for 1 reason or another, things didn't work out as planned. Given that multi-family investing is aggressively competitive right now, I'm re-considering my strategy - potentially investing in mobile home parks or even SFRs instead. My goal is to make as much money as I can over the next 5 years - investing about 500K/year. So my questions are the following: 

1) Is mobile home investing as competitive as Multi-family investing right now? 

2) Over a 5 year horizon, all else being equal (market, time spent etc), what is likely to provide a higher return on investment, if you combine both cash flow and appreciation? My understanding is the cash flow is slightly higher in mobile home investing, but appreciation in MF? 

Thanks All for your opinions and advice.