Couple that with the convenient access to NYC and it makes for an attractive alternative for many young couples and first time home buyers.  

Cynthia Craft since you live in Detroit, look for areas you know you can afford, have potential, and can attract solid tenants.

Best option is a HELOC.You may want to look elsewhere to invest. 300K homes will not have positive cash flow and remote properties attract very low quality tenants.

My experience with airbnb is that it can be hit and miss, if there is an event in town or more busy tourist time.

I don't know your area *super* well but my impression is that there aren't major tourist destinations that will attract a huge stream of visitors.

However I do want to make the units attractive so I can get quality tenants.  

In sum, our neighborhood K-8 schools are attracting families and catalyzing new development, but the selective enrollment system is pushing these same families out to the suburbs.

It takes work to develop land, just as it would to develop storage units.The upside is that having a larger MHP makes it more attractive to investors and will result in a better resale value.  

Make sure it is an attractive property. 

@Derek Luttrell Yea I am hoping to attract a good amount of interest since I am in the metro Atlanta within 30 min of downtown.