MHP investment questions

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I've been reading up on mobile home park investing. I have 3 main questions that I'm hoping some of the pro's here can help me out with. 1. Does mobile home park investing have a cycle, similar to other niches? For example, it's obvious we are near the top of the current apartment market cycle. Where are we in the mobile home park cycle? Is there one? 2. Financing options -- Are there any non recourse options? I've read Fannie has a product for parks over $1 million. Any other options or are loans typically recourse bank loans? 3. What are the biggest challenges / downsides to the industry? Everything I read is so positive and that can't be true otherwise more investors would be on it