I received 8 or 9 qualified applications from Zillow in the first day on market with minimal back and forth. 

I would love the input of this great community, and could easily be swayed one way or the other...At the end of the day, both are wins for me to learn.Are you taking the Red Pill or Blue Pill and why?

Depends if your going to move and live there to personally over see this project.If not then your infrastructure ( team) will be critical all things being equal go with the right team especially if your buying in areas with historic minimal appreciation and just cash flow.

(Banks will not lend on mobile homes after they are a couple decades old so there is not a lot of competition for older mobile homes) Offer a few grand cash to the owner as soon as you get one that is in okay condition, DIY a minimal cosmetic rehab, and offer it as a rent to own or seller financed property.

What works well for me in my market - small ranches with minimal rehab needs that sell right under 300k.

If I did two separate units privacy would be minimal and I would need a different set of licensing agreements since it would be a multi unit and not a single family short term rental.

Minimal regulations.

No magic pill, just plain old cold calling. 

And often times tenants are willing to keep renting with minimal upkeep if they just don't have to move.Now before the property managers in the group come rushing for my head let me just say in addition to being a developer and builder of multi family I have a property management company for the above mentioned reasons. 

When we've bought via quitclaim it has only been where the amount of cash we had to put in initially was minimal to help mitigate the risk and the property was under contract for a significant discount.