Would like advice on a potential inestment property.

[Chris Medeiros]

Hi BP Community!

Hope everyone is doing well!  I'm looking into an investment property and I wanted to ask a couple questions.  

This is the situation:

The property I'm looking at sits on over a quarter acre of land.  It's a 3/1 that has been updated for the most part.  Detached garage.  The lot can be split if desired, but I think I would prefer to keep the whole lot and just build a second building for another unit to rent in the future.  I plan to spend maybe a year or two in the property and then rent it out.

Just curious what others in the community think of splitting the lot up.  Would it be smart to split it and make a profit on the land to then invest into further updating the existing property or would it be smarter to keep the entire lot and eventually build a second building to use as rental income also? Would leasing out the back portion of the lot be a possibility until a second home was built on it?

Thank you all for your thoughts, suggestions, and opinions!