Mobile Home Investing in a boom busted area?

[Taylor Mitcham]

Thanks to everyone who's asked or answered a question on this forum.  I've been learning a lot about MH investing in the past few days just from reading the site.

My question is, would it make sense to invest in mobile homes in a boom busted area? Specifically, I am in Williston, ND and with oil prices being low, many of the oil companies and people have left.  Lot rents alone used to be over $900 two months ago but are now averaging $550.  Mobile homes that need a lot of rehab are around $15,000 and used nice 2 bed 1 bath is between $40,000-$70,000. To rent a 1 bedroom apartment is on average $1000/month vs. 5 months ago was $1500+. 

Assuming that oil prices are going to rise again and the demand and pricing for housing will increase, would it make sense to buy, flip, sell, etc. on mobile homes in a park or mobile homes with land? Or should I start my investing portfolio in a different less volatile area of the country?