The important distinction is, what code is the home built to?

Most of what people refer to as manufactured are double or triple (or more) section homes, built to HUD code. These can be financed with GSE (aka typical) financing including FHA. Can not be financed with GSE if it's ever moved from its original installation.

Mobile homes are single section homes, not eligible for GSE financing. You can get alternative financing but since they are not considered part of the real estate you're basically getting a car loan.

Modulars can be on-frame or off-frame. An on-frame modular will look a lot like a stick built except that it is built on a frame like a manufactured home. On-frame modulars are not eligible for GSE financing.

Off-frame modulars are built to typical building codes for stick built homes and look like stick built homes. They can compete with typical stick built construction for appraisal purposes, depending on the quality of finish. In fact these can be really great homes - as has been mentioned putting things together in a factory is a great way to control costs and quality. Eligible for GSE financing and over time no one is even going to remember it's a modular home.

It sounds like the OP is asking about a HUD code manufactured. If so, know that they are depreciated on a 30 year scale as opposed to 60 year scale (for appraisal purposes). However that refers to the building only. If well maintained and if the land value is appreciating or at least not losing value, they can be a solid investment. If you are in an area where these are common, and there is no stigma to them, they can be a good buy. Look around and see what the ratio of manufactured to stick built looks like in the area. What's the price difference? Do you think most buyers would find them appealing, when considering both mfg and stick built?

I'm not sure but I don't think VA does MFG loans? Check with your loan officer. FHA does though.