If a MFR produces 10k of operating income and is valued at a 10% CAP rate, the value is $100k.Assuming the CAP rate holds relatively constant, the value won't increase until the cash flow increases. 

Would recommend getting in touch with mobile home park operators, agents, brokers and manufacturers.

Having an illegal operation holding onto a large amount of your money is obviously not ideal.

Commercial real estate is valued based on net operating income divided by cap rate.

You could make it a laundry area and provide coin operated machines (more income).You might check into Owner Financing depending on how motivated they are and if there is a substantial existing mortgage. 

This practice is not for all property owners, but when done correctly can net both owner and operator a healthy return.

I’ve been talking to a close friend of mine about getting into fix and flips homes.

I’ve been talking to a close friend of mine about getting into fix and flip homes.

its been a lifelong dream of mine to be in ann arbor

The property is in MD, we both have LLC's, his is in MD, mine is registered in VA