I talked to a lender and he said that I can use the 203k loan to obtain land and put a manufactured home on there (and put permanent foundation on there).

Classic case of a city that once manufactured one or more products and had a strong blue collar influence, but now is mainly low income service jobs.  

I would like to keep it as a rental because I have seven within two miles of it already, but worst case is I can put $5k-$8k in and flip it for $110k based on several comps from the area.My bank decided that they would rather not do another manufactured home loan currently so I am looking for other options. 

I have been in real estate for 11 years and in the manufactured housing industry for nearly 21 years.

. - the main occupations are manufacturing and labor, sales and service jobs

If you know a lot about the auto industry, buying up auto part manufacturers junk bonds carries less risk than a REIT for you as opposed to me. 

I am mostly just looking for a bare bones cheap simple build or manufactured home. 

Also, a newer manufactured home. 

This is not retail, its not a service business, its not manufacturing etc.

Our plan is to live in the stick built home that is there now, improve the lot add a Manufactured Home, rent it out, then rent the first home and move on to the next deal ASAP.