Brandon is right that self-dealing is an important issue to be aware of. But if you hire out management and maintenance so that you are not involved in day-to-day maintenance, you shouldn’t run afoul of self-dealing rules. Buying a park with no POHs would be strongly preferred over owning mobile homes in the park. I would not be afraid to purchase a lot-rent-only park in my IRA, but would never consider a park with POHs.