Bought A Bum Deal, Need Suggestions

[Scott Littlefield]

I bought a doublewide mobile home from auction for $65k. The house sold in 2010 for $130k. The listing was no interior access however it said it was bank financial which cause me to be lax in my due diligence. After purchase and getting inside it was found to be full of black mold and salvage from a realist perspective. Its 2.14 acres with a detached 2 car garage, private well/septic in unknown condition. The land itself would be worth 30-40k max. I could get a cheap replacement doublewide for maybe $85-$90k. I'm am not seeing many good options currently for used doublewides in my area. With a new doublewide, it should be worth $145-$160k. Has anyone ever had this and does anyone have any advice? I know where I went wrong and how I screwed up, I need thoughts on damage control. 

[Zackary C Dunn]

@Scott Littlefield

If zoning requirements allow I would get rid of the trailer and rent out the garage to someone. I rent a 2,400 sqft shop for $700 a month and rent the back half which is 1,000 sqft for $500 with no septic or plumbing. Always an option or even fence in the lot and use it for rv/ boat storage.