The structure is irrelevant to whether the vehicle is a regulated security. 

It would help with your analysis or any challenge of that analysis if you provided what REI deal vs what other financial vehicle/strategy you're referring to.  

A manufactured home (mobile home, trailer) can also become real property by a process that involves turning in the vehicle title and complying with local regulations.

Possible sources for small loans like this:Friends and familycredit card cash advancespeer to peer lending401k loanpersonal loan or line of credit - try credit unionssell somethingwork a second jobmortgage an existing property or vehicle

What vehicles belong to them, and where are they parking them?

Could I sell and invest in other cash flowing investment vehicles?

Furthermore, a cap rate by nature won't have an "equity buildup" (I'm assuming you're referring to principal paydown for this) component since it's an all-cash metric.I think this question, and many like it, will miss the boat on RE investing though and the major benefits of it...all of those other investment vehicles (in their most basic form) don't allow you to get 70%-85% leverage on your invested capital.

Since I'm a rookie and interested in the subject to investment vehicle.

I’m extremely frugal, repair and maintain my own vehicles etc etc. but still we enjoy life, always trying to make time to use the motorhome, just sold the sailboat, Hawaii next month! 

This would work if we were strictly take-out, but there is room for about 5 vehicles to park.I don't trust our new landlord at all either.