Are you looking at the maintenance/repair costs of the homes once in place, W/S/G costs. septic expense if applicable? 

Jacob,The advice you are getting from this guy who is "in lending" is very vague and is not covering all of the fine lines that manufactured home financing requires.

MInd you, we've gotten really good at our scopes of work and we have one of our GCs go through the property with us to give us our scopes of work.

Quote from @Jaycee Greene: I don't disagree re: architects, but it's mostly the former rather than the latter.

I was able to secure $27k from them and $8k from our savings and the deal went through!

@Shafi Noss Improving the land would be the simplest since there's already a driveway, electricity, and an old water well that needs to be jetted again.

But about 1 year after we bought the property, they started cracking down on the homeless in downtown Jacksonville moving the crime to the neighborhoods just outside of Jacksonville.

If you have a cooperative Seller, walk through each unit and inspect together.

I would say it could be done, just need to have the following:#1 - Have great overall knowledge of that market, and better than agents.#2 - Learn how to run comps so you know the value of the property better than anyone. #3 - Have finances in order (i.e) is this going to be bought through conventional, cash, HML, etc.

What is the multifamily market like there?