Commercial lenders are not playing by the same set of rules as conventional lenders.   

Hello Aaron, There are conventional loans available to owner occupiers for shipping container homes.

Fannie/Freddie now require 12 months of seasoning for a conventional cash out refi in order to use the appraised value.

Conventional Loan How did you add value to the deal?

My strategy is to use HELOC to cover down payment and convention loan to cover the rest of the mortgage.

I was told by an agent Knoxville new build don't sell to investor because of limited inventory. 

A conventional income applicant, so to speak, could lose their job and pay you nothing. 

Trailers don't go up in value like conventional houses.In my opinion to get the true benefits of buying mobile homes you want to own the land underneath them.

Fundamentals change neighborhood to neighborhood (i.e. appreciation potential), inventory/absorption issues may exist, rogue city council members and/or registered community organizations can make neighborhoods less appealing with little oversight which impacts value and marketability.

Does it need enough work that it will not pass a conventional mortgage appraisal, thereby limiting yourself to cash buyers?