Congratulations! This does look pretty rough, but its a project. $5k for 2.8 acres AND a place to shelter from the weather is a pretty good deal.
I don't know costs, but it would might be more cost and time effective to perhaps just put whatever money you would spend on repairs into a new trailer/build a house.
Thank you. You might be right, and I'd much prefer to put the money into a tiny cabin rather than that mobile home, we'll just see how the math works.