@Christian HutchinsonI think a different angle to look at this is that the entire thing is a business.

If you're looking for appreciation, MHs are not it.But it's just a different approach.  

However, everyone's investment approach is different, as is everyone's situation.

Direct ownership of real property is different.

Is it different then something like Guesty or hospitable?

I never used them but I have used a different one in California.

You will need to supply 2-3 quotes from different General Contractor's or licensed builder for all work.Some things that can occur are builder/vendor issues with lack of inventory, broken material, employee "no shows", date of completed work extensions, bad work, additional costs not factored on blue prints or cost analysis, delayed permits.Keep in mind any delays or issues will slow down your clear to close/funding date.

But hey, everyone's situation is different, so weigh your options and go with what feels right for you guys!

It may be worth speaking with a different lawyer or financial advisor to get a second opinion and weigh the pros and cons of each option before making a decision.

I would caution that though HUD may have a market rent price for the City of Norfolk, there is a very drastic difference based on the actual location in the city.