Rentals in 55+ Communities

[Scott Carlson]

Hello,

I am a newbie to this site as well as real estate investing.  I see an opportunity, and would like to see if anyone could advise.  I'm looking to move.  The area I'd like to move to is far too expensive for me at the moment.  I found a place 50+ miles away, that I could pay for in cash.  It is in a 55+ community.  I'm considering buying it and living rent free until I'm able to move to my dream house.  My questions to this group are

1.  Does this sound like a reasonable plan?

2.  What are expected returns, not specific numbers but just in general, on 55+ homes (not manufactured) in terms of both appreciation and/or rental income?

Thank you in advance for any guidance.

Regards,

Scott Carlson