Need investment creativity for inherited land (3 acres) in prime location

[Dana Richardson]

Newbie here looking for direction.  We inherited land that sits in a residential area with million dollar homes. It sits on a spring fed lake. It’s presently zoned for residential single family homes.  The market is Tampa Bay and we have a housing shortage so I think we could get zoning changed to allow villa’s or townhomes. If we can’t, we should be able to build 20 sfm’s.  Our goal is to use the land as our retirement where we will receive monthly income for 20 years.  My thoughts are holding the mortgage for land sale, land lease which at 20 years would then be satisfied and be 100% owned by homeowner etc.  I ideally would like to build a small community.  I have zero desire to be involved in the building aspect, but would like to partner with a builder.  All ideas are welcome.  Our end goal is to maximize our profit with the lowest tax burden that allows us a residual income for 20 years.  Thank you and I appreciate any ideas even if not conventional.

Dana