I pay the water for the whole park.

If that is not the case, then maybe you have a real bargain on your hands...For a property like this one, you should do some research to find out what the market lot rent is for similar parks in the area. 

Austin sees biggest year-over-year rent increase among U.S. tech hubsAustin saw the largest year-over-year percentage increase in average rent this September among the nation's top 10 tech hubs, according to the latest report from Realtor.com.

3) Use the equity to buy another house and look in to short term rentals in the surrounding popular areas like Island Park and Driggs Idaho?

Avoid the large national banks (wells fargo, chase, us bank, etc.) as they are a waste of time and completely inept to understand the needs of local customers. 

What about multiple buildings or mobile home parks?

Not having your property on national MLS and marketed with professional photos, correct listing language, and all the bells and whistles limits your reach to buyers.

We moved out to the Chicago suburbs for work and to have room to start a family and held onto it as an investment property. 1 bed, 1 bath 'soft loft' in the heart of River North with parking, storage, and good building amenities.

I’ve househacked in Niles, Norwood park, Pulaski park, and uptown and so I’ve been all over.

@Yakir Sheli you may find something good in Deer Park if you are patient (flip opportunities + pretty good schools)