If you have true condominiums, then each dwelling unit is separately deeded, but the land itself is a separate and undivided common area.  

Michael,I currently have three single family dwellings in the Shreveport/Bossier area. 

Each dwelling has variables to consider such as light exposure, reflection/absorption, finishes & materials in addition to the style that best compliments the architecture. 

Areas prone to drought and wildfire probably have increased dwelling premiums also.That being said, if this is normal in those areas, the rent should probably cover those expenses without too much trouble.  

This property is a bit of a unicorn in the market and location as far as fitting the bill on exactly what my parents are looking for in a rural property,  including a second dwelling.  

FNMA says this, among other things: The manufactured home must be a one-unit dwelling unit that is legally classified as real property.

You should check your local regulations to make sure you can have that many unrelated people living in one dwelling.

Look at dwellings in Japan for great examples. 

Beautiful homes, do you find it more lucrative to build town homes as opposed to single family dwellings?

I intend to invest in multi family dwellings, starting with at least a 4 plex is my plan.