Much as Steve pointed out there is a very active group of investors looking for good (recourse) MH paper… The problem is it takes experience and networking face-to-face time to find the people that are in to MH paper. Advertising is a BIG no no which leaves MH based events and word of mouth.
These lenders DEMAND experience and a proven track record, they in most cases ARE NOT investing in the asset as that’s the last thing they want! Non-recourse less than 50% of the note value is typical, I’ve gotten up to 100% of face with full recourse and typically just pull my money back out which is 25-50% of face.
I’ve successfully flipped many a MH but it’s not big bucks, the average is probably $1k in cash a month. For about the last year I’ve found it nearly impossible to flip singlewide MH’s as my main clients were park owners whom are now buckling down due to the lending crunch that most commercial borrowers are currently facing… No cash = no flip
I get the impression that you’ve not read (or understood) Deals on wheels which I highly recommend you read (again?) and follow it to a T for your first 6 or so deals. Once you’ve got a few good notes in portfolio it doesn’t take much to get the money ball rolling. There is no easy button with this business.