You might consider Niche or Specialized Housing like student housing.

I also don't know the comps out there - if this thing needs 10K to make nice and someone can sell it for 50K then that's not a bad story to resell it to someone.It will probably take a special investor if it's in the shape you mention - need more info to really know, but the items you mentioned can be fixed for under 5K with the right help.  

hello my name is Keith bond I'm a real estate investor threw out North Carolina and Virginia and I'm looking to connect with buyers and investors and agents thank youyou. 

If you stop paying, he can foreclose and take back the property.This provides less risk than equities and more return than bonds.

No plans to buy real estate at the moment because I think it's overheated in most markets, especially those I'm familiar with, but if the money did land in my account today, I'd probably invest in a conservative mix of mutual funds, stocks, bonds, etc. with the hopes of at least beating my mortgage rate. 

I've worked with Paul Vitulli from remax,he specializes in these types of properties.

I would think that you could bond around it, also.

"Many novice real estate investors soon quit the profession and invest in a well-diversified portfolio of bonds.

I am taking on my first flip in Missouri,  My understanding is that I don't need to do anything special from a legal perspective.  

Unless you specialize renting mobile homes and know the pain points there I would not go that route.