For year's it has been a buyer's market with extremely low interest rates, low purchase prices, and decent rents.

You have a few things working against you: Being out of state, the size of the park, and the low purchase price.

I keep my rentals in Buffalo NY, where the property values and taxes are low and the rents are high in comparison, as I imagine is the case in Erie. 

(We currently live 10 minutes from the propery and are renting at an extremely low amount from my mother who owns the house we're in...I'd also like to by this house in the future.)

Is this a niche market with low enough landlording expenses that this works for most people or is the market just over valued like you guys were all saying?

After all we are taught to buy low and sell high...Despite all that, I just bought a facility for .50 cents on the dollar ($19 per square foot) and have doubled its value in under 105 days...from $465,000 to $1,000,000.....in under 4 months...in a "seller's market"....The point here is that every facility will have its own "market" and savvy investors can make money throughout the market's cycle.

@Jason Lawrence Actally, I think your numbers are all low.

Are banks lending on home prices this low in not so nice neighborhoods?

Wholesaling is mostly like any other market with a low barrier to entry: it's filled with people who have no skin in the game. is it possible?

What matters most is the money saved on housing expense, the low downpayment and great mortgage rate for an MF due to owner occupancy advantage, and learning to property manage.