Everyone is going to give you their own "personal" preference.

It only says "some personal use" with no quantity specified. 

They will allow your mortgage payment and any personal debt payments (credit cards, cars, etc) to reach about 45% of your monthly income.Programs vary all over the place so it's best to ask a mortgage broker which programs you qualify for.They like two years on the job, rent paid on time, no liens or judgments, pay stubs, tax returns and so on.FHA has a 3.5% down program plus closing costs.

But I get it if you can invest 500.00 U certainly cant buy whole notes or secured positions with such a small amount. becomes a personal decisions make 7.5% with risk of losing it all or buy T bills for about 5% with zero risk.. its up to the individual investors.

I personally use US Bank [Big stable bank with Zelle capabilities], Relay [Checking and Savings 3%] and then Quickbooks [high interest rate 5%].

Find a group or person that can give you both education and mentoring. 

It also takes a personal guarantee from the borrower.  

For my personal investment journey I have done flips, buy and hold, BRRR, and wholesale.

If the land is separate from the mobile homes, you may be able to see what the county assesses the homes if personal property. 

I have several clients that 'self-manage' or have a full time private manager that has enabled them to offer their manager/cleaner (occasionally the same person or couple) double the hourly cleaning rate (compared to national PM companies) while reducing the booking/cleaning fees for tenants.