What to do with this house with a ARV of 377,000

[Steven Alexander]

so an assessor looked at the house and values the house with the 2.5Ac of land at 377,000.  The house is for sale cash only for 150,000.

ok I say what is wrong with it.  looking at it it can not be lived in due to roofing that was put on wrong or was the wrong type and it has caused massive water damage to the walls and attic. I am almost sure there is black mold.  The house is a double wide with 3 beds 2 baths over 2000 sqft and has a 3 car attached garage.  Along with that the yard is in good shape and they had a bird sanctuary building on the property that is over 1000sqft.  This is a massive place and i think it would cost around 70,000 to fix but not sure what you guys think about this.  I know that prop is crazy right now and it is only .25 miles away from the ocean.

[Nathan Gesner]

Why spend $70,000 to renovate a mobile home when you can buy a very nice one used for $50,000? I would offer it free to anyone that hauls it off. Put a newer one on the property and be done with it for less money and time. Talk to a lender about what it takes to make a manufactured home qualify for financing and then do that. You can usually buy a newer trailer, put it on a permanent foundation, and suddenly it qualifies for home loans just like a stick-built house.

What's the zoning? Can you put more than one manufactured home on it? Subdivide it?