Buying lot and putting a manufactured home on it to rent out

[Account Closed]

I've been thinking about this investing strategy and wondering what's wrong with it. There has to be something otherwise all investors would be doing something like this. 

1. Buy a lot. Let's say $100k
2. Put in a manufactured home. There are plenty I saw online for under $50k 2-3 bedrooms. 
3. Lot + Home = $50k + whatever installation fee, transport etc. All in at let's say $200k. 

Rents are quite high in NorCal. $2000/m for a 2 bedroom is cheap. I can collect $24,000/yr in rent. In 8 years, everything is paid off. I keep it for as long as I want. If I want to sell the land, I move the home to a different lot. 

Rent out that place. I'm in NorCal. Cashflow is rare, homes are crazy expensive. This option seems more appealing each day but I can't figure out what I'm missing. Maybe some of you here have looked into and would be willing to share some insight?