And do you guys recommend one doing your first deal; also what is the price range typically for one ?

However I don't have a clue about manufactured homes and i'm curious.I have looked in several nice manufactured home neighborhoods with paved streets, communal walkways, good people, etc. 

If so, I'd underwrite it with a range of interest rates and see where the deal breaks.  

Couple things you have to worry about if you purchase an existing LLC membership interest (i.e. you purchase the membership interest in the LLC rather than the asset) - is that you inherit any liabilities that the LLC may have - this can range from taxes to a person who slipped and fell 6 mos ago and is just about to sue the owner. 

You can still find great deals for cash flow and count on appreciation in the $400-500k price range.

@Dave DeMarinis I have been looking at properties in the Dayton area and I have seen rates as high as 6% of purchase price but most are in the 3-4% range.

Indiana is a great market for the $60k-$100k range.

Not sure yet, looking at comps I am hoping to sell in the $120,000 range so that would be roughly $50,000 in profit.

I'm in the Finger Lakes region of New York (5 hours from NYC), reliant on tourism area and some manufacturing.

And if I was looking more towards that 400k range would also consider pg and Anne arundel county.