Land and rented manufactured homes

[Michael Conway]

To begin with, I am a total newbie, so keep that in mind.  

I am looking for some opinions, guidance, answers, etc. on a property with a little over a half-acre and six manufactured homes in Texas. Five of them are currently being rented for a total of 2800/mo (gross). I'm hesitant though because the homes are older. They do not even have the year for two of them, but I'm pretty sure they are from the 70s. The newest one was built in 98. They (the wholesalers) are asking 265k, and I don't think the assets support that. From looking at comps on land, the land itself is worth 50k at best. Running the numbers as is, it should net about 600+ per month (more when the 6th is rented), but I have a feeling the banks will shy away from it because of the value of the collateral.

In addition to the uncertainty of the deal itself, I have some additional questions. Would this be a single loan or multiple for each property? Would this be commercial or residential? If I were to live in one temporarily, would that make available some better loan options?

Any feedback, answers, etc. is much appreciated.