SmarTrend says the cash flow in two of the top five residential Real Estate Investment Trust (REIT)s are manufactured housing community owners.  With a price per share of $58.18 and a free cash flow of $3.76 per share, Equity Lifestyle Properties (NYSE:ELS) has a price to cash flow ratio of 15.5x. Sun Communities (NYSE:SUI) has a ratio of 86.4x with a share price of 37.23 and free cash flow of 0.43 per share. The lowest ratio often indicates a good investment.  According to George F. Allen’s 22^nd annual Allen Report, ELS and Sun rank first and fourth, respectively, among the largest owners of homesites in manufactured home communities.