An S-Corp is not a one-size-fits all, this is the gospel kind of a solution. 

Be prepared to spend (depending on size) $500-1000 for an inspection report.

Take in consideration the size of the property, etcThank you,Aviv

@Bryan Richard Population of the town, loan size, occupancy must be 80%+, quality of the mobile home park and debt service, a credit score above 650+ and have 6 months of reserves is critical. 

We have operated medium sized construction company's (20 employees).

On your first point of purchasing the not from the bank, there’s a few items that need to be checked of first:Smaller/ Regional bank (not your big 4 or similar size)The bank needs a reason to sell but also a want (loan is severely delinquent)Usually a preexisting relationship with the bank

I have not done any deals like this myself, however, I recently walked a property that was exactly what you describe, in the Houston area. 70’s build and same room sizes.

So location over lot size.  5.

Estimate 40’ x 14’ It would be very easy to turn half of each one of them into a 3rd bedroom and still maintain an appropriate sized screened in porch on the other half.I have a guy that is very capable of doing the work.

@Lucas Carl there were lots of indoor pool cabins that size built prior to a couple years ago in our area.