You need to have some material participation OTHER THAN solely selling securities in any sponsoring entity to avoid being characterized as an unlicensed broker-dealer.  

PS: Imagine this scenario - you arrive at your local car dealer, all eager to check out the new Tesla.

@Sean Hayes we own parks around atlanta, are licensed dealers etc.

Newer 3bd 2bth models picked up at a dealer's auction all at once just north of Houston.

I, as a licensed machine gun dealer, will NOT test the FEDS.

That way you could take the prioperty if it does not work out without having to buy out the first.Now, you have some homework....check to see if these strategies will work in your state, compliance with the SAFE Act and if you need to be a MH Dealer in your state.....if all is good at that point, go see your attorney with your selected strategy and get some documents.Good luck

I know it is late and I should probably keep my mouth shut but, there are folks here selling classes about buying and selling mobile homes that have not even taken the time to become a licensed mobile home dealer.

I recommend looking at how the best wholesale dealers, regardless of if they are in your market, are operating their business.

It's not clear if it was simply traded between MH dealers and sold as new or if there was a previous owner #1 who set it up at location #1 and later resold it back to a dealer who then sold it to owner #2 who set it up at location #2.  

Here's the legal definition of both a HUD MANUFACTURED HOME and a MULTIFAMILY MANUFACTURED HOME: California Department ofHousing and Community Development Study Guide for Obtaining a Dealer or Salesperson License What is a Manufactured Home?