1.  Massive shortage of affordable housing. 

According to national statistics, there is a shortfall of nearly 7 million affordable housing units for low income people in the US.  71% of Americans earn less than $50,000 per year.  

2.  Supply constraint.  

Most counties and municipalities in this country do not provide zoning rights for new development or construction of manufactured housing communities. Zoning is practically impossible to obtain nationally.  Local governments prefer to support assets that generate higher tax revenues.

3.  Superior investment returns.  

Mobile home parks are essentially tracts of land with utility hookups. While it is common to also own some mobile homes, the expense ratios for mobile home parks are far lower than that of apartment complexes since there is usually very little physical structure to maintain and repair.  There are few assets that generate yields comparable to mobile home parks.

4.  Lower tenant turnover.  

The cost of moving a mobile home is approximately $3000 - $5000.  Most home owners do not move their home when the lot rent is increased. 

5.  The smart money is aggressively investing in this niche.
Warren Buffett owns Clayton Homes, the largest manufacturer of mobile homes in the US.  The Carlyle Group, one of the most prestigious private equity firms in America has invested nearly $100 million dollars in mobile home parks in the last couple of years.  Most recently, a Singaporean sovereign wealth fund just invested nearly $2 billion dollars to acquire an American company that owned dozens of manufactured housing communities.

6.  Lower turnover than apartments.

Mobile home parks have a turnover ratio of  >10%.  Apartments have a high turnover of approximately 60% per year.

7.  Tax advantages.

The depreciation schedule for mobile home parks is 15 years versus 27.5 years for apartments and 39 years for other commercial properties.

8.  Low capital expenses.  

Since mobile home parks do not have the physical structures that typical apartments, office buildings and shopping centers have, capital expenses are very low by comparison.