My father and I are thinking about buying some mobile homes with land for cash at a large discount, fixing up the homes, and selling them owner financed. 

I have since adjusted my approach and am focusing on mobile homes at the moment instead of SFH. 

A 1970 mobile home has no value from a traditional lender's perspective and a 1995 man. home, depending on condition, might be not be outside the high four to very low five figure price range.

@Richard Haiber Apart from plumbing issues, landscaping and pool maintenance tends to be another big expense when it comes to managing mobile home parks.

I own a small mobile home park.

There was nothing obvious in the 2014 Mobile Home Residency Law (other than the medical exemption) and I didn't see anything at http://www.gsmol.org.

That is very helpful information...do you know anything about how profitable mobile homes can be?

But it's not only the kids; grandma and grandpa, mom and dad are also earning squat on their savings so they can't help with the downpayment either.And then there's the 56% of existing starter homeowners with a mortgage who can't afford to sell their house and net enough to buy another of the same price let alone move up (http://ashworthpartners.com/46-of-us-homeowners-with-a-mortgage-are-frozen-and-cant-afford-to-move/ ) making it difficult for those who do accumulate a down payment to find a starter home they can afford.Now the NAR and their resi real estate agents, the MBA and their home mortgage bankers, the NAHB and their home builders are all saying it's just a phase and everything will go back to the 1950s just as soon as Ward & June Cleaver get their new TV show but they underestimate the power of recency bias and demographics combined.Add on the need to stay mobile for job opportunities and it will be much longer before owning a mass produced suburban sfr is the American dream again.

My job is mobile, which forces me to move around every few years. 

Mobile home living and boondocking is more acceptable in the Denver Metro area than tiny homes.