Want to invest in R.E.

[Ty Richey]

Curious what options and thoughts others have if they were in my shoes and wanting to invest in R.E..  I own a modular home, NOT a mobile home, in a 55+ community that is worth 120K in Menifee, CA.  All 120 spaces in this community are leased, not owned by the home owners, but we still pay property tax on the home.  I am being told that because we do not own the land, only the home on it, we can not get a reverse mortgage on this home unless I sell it and buy another property that does qualify.  I do not really want to move and am trying not to have the responsibility of a payment is why I do not want to use conventional financing.  

My plan was to get 75K of my equity to use as a down and repair costs on a 200K fixer and flip it... but, it appears my 120K equity is stuck.

Any thoughts?  Thank you.