Importance of lot size

[Javier Denis]

Since I still don’t have the funds to invest I’m analyzing properties to get a feel of my local market. I came across an interesting property, well priced, good cash flow potential as a rental, and most of the work it needs is cosmetic. Although the house itself is only around 1000 sqft, it has an oversized lot in comparison to the general size of properties in the area. So what I was wondering is what are the pros and cons of a big lot?