Thank you for the responses.
I will add more information to the basics of the question.
#1) I am a buy and hold investor (10-year minimum) who is always looking for ways to improve a community that has the demographics to support the improvement.
#2) These are all tenant owned homes.
1970 model paying $300 per month lot rent - clear title. There are (70) 1970 model homes in the park.
2000 paying $300 per month lot rent - has a lien $$?? There are (25) 2000 model homes in the park.
#3) The cost of a 2000 model 14X72 3+2 complete ready to sell would be $20K+/-
#4) The cost to remove the 1970 model home would be $3500. The cost to repair this same home could be $7K + ?
#5) I will replace these homes as the opportunity presents itself either from abandonment or tenant relocation. My philosophy is improve the community and you will improve your tenant quality provided you have good demographics.
#6) I will be creating another business with the newer homes = Notes
I may not be able to see an immediate land value appreciation to justify the cost of newer homes, but I will be creating another profitable cash flow from the notes.
#7) All lots will accommodate 16X80 homes
#8) Like a vacant Wal Mart I guess my 2000 model home with a lien and vacant could be worth nothing if I didn