However, the income on the land never goes away, and actually increases over time, so it can handle a 10% cap rate or even lower in some cases.The sophisticated bank lenders and appraisers figured this out decades ago, which is why they will not put any value on the homes.If you feel that the homes are of special value, then keep the homes and sell the park, and pay lot rent on the homes until you have derived your value goal from them.

I have a 64 lot subdivision project in Red Bluff that I've been sitting on for over a decade--maybe now is the time for someone to build it out. 

That's a myth, as I've worked in social services for more than a decade.

This makes replacing the entire shower tower about as easy as replacing a washing machine, and it can legally be done by you or a handyman you're paying $15-$20/hour for, not a plumber sucking you dry at $100 per.The different in long-term labor costs will really add up over the decades, especially if you invest in durable tile shower surrounds for your rentals, which we do -- you don't have to repair, replace, or cover over the surrounds after the plumber gets done cutting into them to get at or even just to check problems in the many soldered or crimped connections behind the wall in a traditional setup.

I am no longer interested in growing my portfolio but instead of saving 4,5,6% interest by paying down a mortgage I reinvest and have consistently pulled 10%+ over the past decade in moderate risk funds.

What do you see coming in real estate in the next decade and what do you feel work and won't work that has in the pass decade??

No criminal history unless it is extremely remote, like over a decade ago, with a long history of stable employment and stable housing. 

Not to pile on regarding the location and subdivision, but lots could be bought there for about $1k to $5k over a decade ago because it all went into foreclosure.

By select few do you mean those fellas on this thread who together have decades of experience in the industry and have transacted well over $1B in real estate sales?

You have to analyze tons of metrics to see potential tenant relocation risk at end of lease term and that comes with decades of experience.