Should I buy land and build a modular duplex for rent

[Bobby Newkirk]

My father and His brother owns a zoned residential property, roughly about 12 acres. A few years ago they allowed another brother to build a house on the property taking away 4 of the 12 acres. I would like to structure a deal to purchase the entire property and build (2) modular duplex’s and rent them out. My question is since there is a house on the property that has a mortgage on it, is it too risky to purchase the entire property ? Any suggestions in this case?