Include an exit strategy, tax planning, and insurance to protect both parties.

@Nicholas Stout Normally when I hear landlords make the conscientious decision to "convert" their properties to Section 8 rentals, they have a real estate problem wrongly diagnosed as property management or tenant issues.

Because someone looking to live in the property will pay more because it's usually an emotionally drive decision.

Affordability is no more that $4500 per month  morthage/taxes insurance. 

Work with your commercial lender/insurer/lawyer/personal banker and see if they know of any interested parties.4. 

This is an important decision- I have a few PMs I can refer you to over here.- Depending on your budget, do you want a small condo or larger residence?  

Several options you can explore to get the down payment capital: Solo401k; HELOC on personal residence or from equity of the SFR; Cash Value Life Insurance Policy; Business Credit; Private Lenders, to name a few.

As home prices in NJ are very high, it makes the decision to go FHA VS live-in Conventional hard for me.

However, a different niche such as insurance placements, might very well be in the 70%~ occupancy level but the rents are going to be so much higher that the occupancy rate (comparatively speaking) is irrelevant.

Florida is a unique state for MHP law and the insurance has gotten very expensive there too.I recommend checking out @Frank Rolfe's mobile home university content if you haven't already.