The size of the home.

This land is CBD and my neighbour has a approx 5000 sqft building on the same size parcel. 

This plus the fact that when the kids are gone her housing needs will change, lead me to recommend that she rents for next 3 years until kids go to college, then consider WHERE she wants to live; the size of the house, condo or apartment, etc.

Most large PE MHP investors will tell you to only offer on the pad rental portion of the income which assuming $500 each, 25% expenses and an 8% CAP your at $281250.The other way is to offer her the wholesale value of the five mobile homes. 

I worked with them once and everything went smooth, small sample size.

Quote from @Jeremy Burnheimer: There are six things required to classify a space as a legal bedroom:Minimum bedroom size: At least 70 square feet, but local code may require more.

3) STR guests - if something goes wrong on the unpermitted add ons, will it be a bigger risk/issue vs something happening in the permitted portion?

I'm a bit over budget on those at the moment - looking for ways to bring those costs down though.Todd - Gross revenue for other similar sized units in the area are between $25,000 & $30,000. 

For a more in-depth view of the Las Vegas investment market, DM me for a link to our blog site which contains more information on investing in general and investing in Las Vegas in particular.Before I continue, note that the charts only include properties that match the following profile, unless otherwise noted.Type: Single-familyConfiguration: 1,000 SF to 3,000 SF, 2+ bedrooms, 2+ baths, 2+ garage, minimum lot size is 3,000 SF.Price range: $320,000 to $475,000Location: All zip codes marked in green below have one or more of our client’s investment properties.What we are seeing:The chart below is from the MLS and includes all property types and price ranges.We're observing the typical seasonal slowdown in prices and inventory that starts in July because fewer people are buying properties and moving as school resumes in mid-August.Rental Market TrendsThe charts below are only relevant to the property profile that we target.Rentals - Median $/SF by MonthRents had a slight drop MoM ($1.19/SF vs $1.20/SF).

Someone already mentioned Saskatchewan, there are places in Alberta (Lethbridge, Red Deer, Medicine Hat) which are a decent size.