4 Lots & 1 Basement House for $80k - how to make this work.

[Kirk R.]

Saw an Ad for $80k with possible CFD. Basement house is 2BR 1BA. Rental Rate is maybe $450 to $550 in my area (Anyone want to be a Hobbit? 2/3rds of house is in the ground top 1/3rd is out of the ground) - Not a bad location.

On a Well and probably has Septic.

Built on 4 lots. Ad says I could build what I wanted on the other 3 lots. Was thinking about putting 3 trailers/mobile homes - sure the neighbors would not be so happy and zoning would probably be like no way.

Just wondering if anyone has any ideas of how to pursue this one & maybe whether it is worth pursuing?