That equity could have been cashed out and put to use if I flipped the property but instead is parked in this rental property so there is some opportunity cost there that brings my true yield down further if you factor it in to calculate the return on equity.

Maybe more with an old roof and deteriorating parking lot.And of course you live in one of the units so you need to be able to maintain your unit as well.

So, I purchased a MH in my park 2 weeks ago from a lady that couldn't afford to live there anymore.

I'm wondering if there is anyone out there that has tried flipping park model trailers in the Phoenix AZ area. 

I work for a national commercial mortgage broker. 

Try...Security National Mortgage Company orRidge Lending Group

:Would a 3 brm condo in silverlake (rent for $3200/mo) that I can sell in a year to fully re-invest $540k OR buy and hold in a 2/1ba duplex (rent for 4k/mo but 100k more in asking) in hyde park, a slow but up-coming area but will hopefully appreciate soon-ish. 

According to the National Association of Realtor®'s 2016 Profile of Home Buyers and Sellers, the average FSBO sales price was $185,000, while the average price for a home represented by an agent was $245,000.

Parking is a big deal - you'll need to provide the required spaces. 

The closest I got to my numbers matching up with the listings was a Trailer Park listed in Montana (I think) where I was within about 20K of asking.