Develop or leave as cash flow?

[Robert Fonner]

Hello, 

My wife and I own a property in Arlington Texas. A block away from the cowboys stadium. Property currently has a residential building that we run our business out of, is a STR for the events, and sell parking also for the events.

I am interested in redeveloping the property to be a fourplex. Have a developer working on designs at the moment to see if even possible with city codes. Current estimates are around a million. 

Curious about the wisdom of messing up a good thing with a cash flowing property to potentially own/sell a multi million dollar property.

obviously would like  a better understanding of the risks involved.

Thank you 

[Shanequa J.]

Will you make more money with the 4plex than what you're profiting now?

Are there other residential properties in the neighborhood?

Can you stomach going over budget, time delays, and having to pay the mortgage without any income coming in from the property?