It’s long been known that MHPs are potentially great investments, but they are definitely not trouble free.
It’s kind of a special form of real estate that has zero upside other than people bailing out and paying fairly exhorbitant rent on the ground space. Different from mfd homes, but those too generally have almost no upside and can be tough to get out of.
I’ve been in and around plenty of mfd homes that look fine. Very non liquid.
In more rural settings, a decent doublewide with a permanent foundation on small acreage will appreciate like a site built house and will sell as well as a site built house if it’s been well kept up and is in a reasonably desirable location.
On the other hand, single wides on rented lots in mobile home parks are highly prone to repossession. They just don’t sell worth a hoot used, and have to be heavily discounted, which means that the people holding the notes on them have negative equity for a very long time. They’re already not the most savvy people with money and they’re already very likely to have marginal credit. So, they let it go back to the finance company.