Several years ago I purchased a single wide on 1 acre of land in Durango CO for $93,000. It was the definition of trailer trash! I replaced it with a cedar sided double wide at a total cost of $72,000 (net after selling the singlewide). By installing the unit on a permanent foundation, we qualified for conventional financing. As a rental, I used a 12 year depreciation schedule. We sold the property for $235,000 two years after the intial purchase.
Moving a trailer isn’t all that difficult, even units on a permanent foundation. As more and more parks enforce CC&R’s and set up co-ops to own the ground, mobile homes are fast becoming affordable entry level housing.
Quite frankly, I’d rather see the mobile home park on east Mission Bay than another highrise hotel.
