In 2014, we acquired a 40-unit manufactured housing property that was only 70% occupied for $715,000.

Low rents didn’t equal affordability — they reflected deep dysfunction:

  • The septic system and well required full replacement

  • Two rental homes and six apartments needed complete rehabs

  • Trash service required 75 full-sized dumpsters

  • Roads were nearly undrivable

  • Tenant-owned homes were unsellable due to infrastructure failures

Fixing these issues took years and required meaningful capital investment.

In 2021, the property refinanced at a value of $2,600,000.

Today:

  • Older single-wide homes trade for $30k–$50k based on tenant sales

  • Formerly unrentable units are 100% occupied

  • Utilities operate efficiently and roads are safe

  • 15+ homes and rental units were added back into the local housing supply

This is what actually preserves and expands affordable housing:
patient capital, operational discipline, and reinvestment — not artificially low rents.

Projects like this are still achievable, even in highly regulated markets.
The real opportunity isn’t fighting rent laws — it’s finding assets where thoughtful reinvestment can restore livability, value, and long-term affordability.

That’s where investors can make the biggest impact.