Right now, I'm exploring investing into a mobile home park.

Then rent the bigger home out using a property manager, allowing her to possibly cash flow and maintain that asset and let it continue to grow in value.Encourage her to consult with a CPA or tax attorney to explore the best strategy tailored to her situation.

Owning in an SCorp is not for all lenders, but plenty of lenders are ok with this holding type. 

Selling to you could begin to feel like an appealing alternative to dealing with the hassle of re-renting the home.If they’re open to selling, you can share what you’d be willing to pay based on your research and pre-approval.

So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Only in this house your mom happens to be the tenant. 

I am exploring options - sell his place, use is as a rental or take some equity out if it to purchase another property (I was thinking maybe a short term rental on the lake)?

You want a property that has the highest probability of maxing out on appreciation.Once done, you would want to explore the options below to maximize your rental income:- STR- MTR- Rent by RoomYou should go into this understanding YOU will live in the worst unit - in an illegal unit in the basement if you can!

This vary heavily town to town. 20% down is great if buying strictly as investment but if you have a way of owner occupying I would explore that route and apply the 20% down to increasing value of property and instead using low money down loan. 

@Josh LansberryIt’s exciting that you’re ready to take action in the Raleigh/Research Triangle market, an area with strong growth potential.