I do not know what the partner is willing to take for his interest at this time, but I think he is trying to replace the worry and stress of ownership with a lump sum in the bank.

Might just the be bank trying to gouge you. 

I am curious to see how banks will be handling these notes with non-recourse when foreclosure comes.

@Glenn Curry Keep looking at different banks.

HelloFrom what I understand, with no experience in real estate investing, mobile homes only depreciate and that banks don’t see them as having any increase in value after repairs.

He explained that their bank client doesn't want it due to fair housing.I'm assuming it's part of fair housing where you can't call out a neighborhood as being "nice" or "bad" or "crappy" or "full of crime."

It can be at risk whether it is in the bank or under the mattress.Investing in real estate is the best way to build up more wealth and cash to buy that dream home.

So I would recommend you start your search in two main areas :  1) "bank foreclosure sales"  These are for properties foreclosed by the banks that hold mortgages in houses where the owner is not making payments.2) "tax sales".

Local banks are more likely than big ones. 

Call and talk to anyone connected to real estate: Agents, Wholesalers, lenders, banks, attorney's, surveyors, contractors, etc.... and ask a lot of questions.