The existing mobile homes are a liability.

@Ben Gabin also just practically speaking...I assume your new business will have a different name than your existing business?

I would try to get permitting for 2-4 units if possible.2) New construction would run you about $165 sq/ft  in the area.Im looking at a new construction project for a 1300 sq ft sfh near 66th/westernif you need to tear down the existing structure may be more. 3) first steps is get architecture drawings, understand the utilities needed, then permitting.  

Zero down loans may exist but probably only do for the super rich who could probably pay them back with their own money.

Zoning in pretty much each local jurisdiction does not allow new ones to be built or converted, and has simply grandfathered the few existing ones into legality.Can you buy one?

In OKC you could buy 4/5 existing rentals that cash flow from day 1.

In either case, you should verify that you are eligible to transfer the funds from your existing retirement account (e.g. if the funds are in your current employer 401k, you will likely not be able to transfer until you quit your job). 

There are costs to furnish and market is reportedly becoming saturated in some areas but if you live next door and can make guest experience perfect and get great reviews, you can probably stand out.

@Kiera UnderwoodOkay gotcha, thanks for clarifying...Not likely an option for me at this point with a family of 6 (including myself) in our existing home.

I think if you are just restoring an existing structure you will not have the problem.