These homes tend to individually appreciate over time and are actually not bad places to live.The places with the lot rent you have to decide if you want to be in the mobile home business and buy the park.

If the former, note per Union City Rent Stabilization ordinance (https://ecode360.com/15397000 is a slightly outdated version), "the terms of this chapter apply to individual dwelling units within a building, including condominium or cooperative units in the process of being converted, or having been converted".

Your 1031 will ultimately be only as good as the individuals directly assigned to your exchange.  

From having rich residents to now having wealthy residents. 

While I agree the rent by the room strategy can be great if you know how to manage it well, from a lending perspective, a lot of 30 year DSCR note buyers won't allow properties with individual room leases, so it could make refinancing more challenging. 

Most reverse exchanges are done with cash from the client or a private loan of some sort from an individual or a portfolio bank.When your old property sells you will have that cash in your account to purchase the new property. 

Since they can't do each property individually, they use comparable sales to make broad generalizations to determine percent changes.

Giving away the place cheap only creates more work for yourself screening lower income individuals, and attracts scammers.

The goal is to expand my network with likeminded individuals in the same market.   

However, you are correct, their CoC returns will never make you rich in the near future.