Manufactured Homes on Land | Guidelines

[Tori Prophet]

Hi everyone! I need your help to figure something out.

@John Fedro says that mobile homes on land are an entirely different animal. Unfortunately, I'm having a hard time finding out exactly how to capture that animal.

I stumbled upon a 1 week-old ad selling a 3/2 1570 sq. ft.  manufactured home on owned land built in 2002. They are asking $92K. On the county records, the seller is "Acme Properties" Inc. and the assessed value is $71K. There is another home for sale in the same neighborhood for $110K that looks pretty nice inside from the photos I've seen. It appears that rents in this area are around $1100/mo and the neighborhood looks decent. I may drive around it this evening to see what the overall environment is like. 

My question is, is there a deal in here somewhere? What's a good offer? I used the BP rental property calculator and the numbers just don't work. This seems like a lot of money with no way to make all my money back in a short amount of time like with mobile home parks. So does that mean you would treat it like a traditional home? Would you do a direct mail campaign to this neighborhood? Would you avoid ones that are business-owned and just target individuals? 

I filled out the interest form and 2 realtors have already left me messages. Should I talk to them, what do I say? Is this worth pursuing? 

What ARE the guidelines for investing in a manufactured home on land in a subdivision and not in a mobile home park?

Links to articles, videos, or books welcomed.