Is the low-income housing tax credit limited to only buildings? Can it
also be applied to land? Such as mobile home lots rented to low-income
people to place their mobile homes on?

"Is the low-income housing tax credit limited to only buildings? Can
it
  also be applied to land? Such as mobile home lots rented to
low-income
  people to place their mobile homes on?"

According to the IRS (
http://www.irs.gov/businesses/small/industries/article/0,,id=98884,00.html
), "The low-income housing credit can only be claimed for residential
rental buildings in low-income housing projects that meet one of the
minimum set-aside tests."

Vacant land does not qualify. If you purchased the mobile homes and
rented them out, you might be able to qualify. However, the applicable
forms and instructions repeatedly use the word "buildings" and
probably refer to only free-standing structures that cannot be moved.

The link above contains instructions about how to file for the credit
and lets you download the necessary forms and publications.

Good answer. Thank you.