It has more reliable tenants (some of which even fix the property up), more stable and predictable appreciation, and just over-all less work.

One applicant has a 530 score but seems to have a stable job with 3X income.

Increased Institutional Investment: Large investment firms and private equity groups are recognizing the potential of mobile home parks as a stable asset class, driving up purchase prices.

Now that the property is refinanced and stable, I'll be heading back home."

So correct me if I am wrong but doesn't an increase in rents decrease the cap rate since the property is more stable with a wider spread between gross income and the operating expenses

Most stable tenants that are dependable to pay their rent on time and won't move every lease renewal typically expect a kitchen (even if its shared). 

I've traveled a lot and the beaches in this area are top shelf. 

Now that the property is refinanced and stable, I'll be heading back home.

A down payment of at least 10% is advisable unless you have strong cash flow from stable income sources.

Just outside of a great market that has been stable through the last few recessions...