You’re going to deduct your tax prep, your internet, your cellphone, your computer, your tablet, your mileage if you’re involved in the properties, your home office, etc etc.

Free healthcare free cell phones free housing.  

I try to talk sense into them and say let's look at 3 top national tenants Aspen Dental, T-mobile, Starbucks for 3.5 million at a 6.7 starting cap rate with 2% annual increases on a hard corner with a nice anchor in a strong suburban locations putting half down and a full non-recourse loan.

not sure they will do it for mobile homes though.

There have been many investors who have been successful in mobile home investing.

I've looked into mobile/manufactured homes as an option but with lot rent it seems like it may not be worth it.

If they are wrong, well, you can buy that deal from them (or their lender after they foreclose) a year or two or three from now for less than they paid...By the way, there is nothing wrong with buying a single family home or duplex--my first deal was a mobile home. 

(In case the local government decides they don’t want the mobile homes there any longer.)

A client of mine recently renovated a mobile home in Tempe, and it's become a surpisingly lucrative rental.

Also, my business partner Mike Ayala has owned and operated mobile home communities since 2007.