I’m considering a 1031 exchange and would like feedback from investors who have experience with mobile home parks, particularly smaller, park-owned operations.Current Property (Selling):Duplex purchased in 2021 for approximately $145,000; estimated current value around $210,000\Loan balance: about $90,000Gross rent: $2,400 per monthNOI: approximately $16,000–$18,000 annuallyCash flow after mortgage: around $750–800 per monthLow management requirements and stable tenantsReplacement Property (Under Consideration):Seven-unit mobile home parkAsking price: $395,000Rent: $750 per unit plus $40 for water (total $5,530 per month; $66,360 annually)100% occupied with long-term tenants, several in place four to five yearsAll homes are park-owned, purchased between 2016–2018 with metal roofs and Hardie sidingOwner pays water and sewer (aerobic septic); tenants pay electric and trashMaintenance handled by one individual for $400 per month using personal equipmentGravel road, well maintained; potential to add one or two additional homesMy Pro Forma:Vacancy: 5%Expenses: approximately 40% of effective gross income (includes water, insurance, taxes, maintenance, mowing, etc.)Estimated NOI: $37,800Financing assumption: $255,000 loan at 8% interest, 25-year termAnnual debt service: approximately $23,574Projected cash flow: about $14,250 annually ($1,188 per month)Cap rate: approximately 9.6%Cash-on-cash return: around 10% on $140,000 downDSCR: 1.6 (strong coverage)If the price can be negotiated to the $360,000–$370,000 range, the cash-on-cash return improves to roughly 11–12%.Pros:Consistent, well-maintained units with matching exteriors.

Mobile homes usually lose value over time, even if the land underneath gains some.

I’ve been approved to purchase a duplex and they will also pay 3.5 dp (fha) and also contribute to closing costs.

If passed -- invited to complete a Rental Application + pay $49 for a complete Background check (credit, criminal and rent history)4. if approved -- invited to schedule a showing of the Unit5.

Quote from @Leah Riherd: HiI was sold a mobile home that is out of state as an investment at a "real estate"meeting.

Wheel Estates is a manufactured/mobile home community located in Villa Ridge, MO 63089.

Have you noticed approvals getting simpler, or are you finding more hoops to jump through lately? 

These changes don’t involve physical alterations to the property but instead adjust how housing services or policies are administered.Examples of Reasonable Accommodations:Allowing a service animal or emotional support animal in a “no pets” community.Providing a reserved parking space closer to the resident’s unit for someone with mobility limitations.Permitting rent payment by mail or online for a resident who has trouble visiting the office.Extending rental deadlines temporarily due to hospitalization or disability-related delays.Landlord Responsibility:Landlords must approve reasonable requests that do not create an undue financial or administrative burden.Requests should be handled promptly and confidentially.You may request verification of the disability or need for the accommodation (especially if it’s not obvious), but you cannot ask about the details of the disability itself.Tenant Responsibility:The tenant must make the request (verbally or in writing) and explain how the accommodation relates to their disability.The tenant must continue to follow all lease terms unrelated to the accommodation.What Is a Reasonable Modification?

Quote from @Stuart Udis: Real estate investors should not treat loan approval as proof that a deal is profitable.

About 3 or 4 months ago on the mobile app the responses aren’t in order of timeline.