Pros: Lower cost and barrier to begin investingIf you also own the land you can rent the land & sell the mobile home.You have flexibility to resell with seller financing vs. renting for potentially higher yieldCons:Can't rent mobiles in parksThey depreciate quickly & don't appreciateThey will usually attract a less than ideal renter pool

It seems like a fair way to purchase a home in need of some TLC, where with the right guidance and expertise if you purchase this home at fair or low market value in a good area for resell value (after 2 years or so live in) you should walk away with a fair investment.

From my limited experience with turnkeys, you wont get much more than a 9% return and you wont have exit options because you are paying a bit above what you could resell it for, especially if your loan comes due in 12 months. 

My goal is to flip this property.Would you recommend buying properties in which you *plan to resell* in flood zones?

@Lee Guinn You can take title and then resell to your end buyer, if you like.

When you resell for a profit, they get their cash back plus a little interest and you get to pocket the rest. 

@Dusty LewisMy friend 'wholetails' mobile homes, which means he buys, does no improvements, and then resells to someone else.

It will apply when you're a Realtor, a consultant, an eBay reseller, an accountant, a real estate guru etc. etc. etc. 

Owner occupant buyers don't care as much about the ARV when they buy if they plan to live there for 20-30 years with their kids, cute dog, grandma, etc ... they can almost assume it will be worth more by the time they go to resell years down the road.

Let’s say I get a house off a tax auction.My certificate as proof does that mean I gotta cut the grass just to resell the home to a flipper?