Several options ..Could you build a storage unit on the lot or could you sell the lot to someone who would like to build a house on it .

A 15 year mortgage may be a lot to take on at first, but as you earn more and more, it gets much easier, and you'll be glad you did it.  

Check out the nearby members and network https://www.biggerpockets.com/meet, it will help you a lot to find partners that can help you out in investing.

Even though we increased the value through forced appreciation in the last year, any equity within the investment is producing the monthly return so it’s too much equity in correlation to such little cash flow...we will have to discuss selling it and crunch the numbers with the view you’ve given me.This isn’t our first deal, so there is still a lot to learn.

Do they charge a lot to draw up a Purchase and Sell contract?

. :) I learned my lesson.. and if all the doom and gloomers hit the jack pot and we have a crash well i will think about stepping in and picking up the deals.. but I only buy deals even today.. and there are deals everywhere.. you just need to have the contacts to get them.

Really appreciate all of the input here - it's given me a lot to reconsider about my strategy!

I was living there, I wasn't into REI yet so I guess there is a lot to catch up now. :) 

Wow, that’s a lot to digest!  

Wendy is right - but there's a lot to consider when it come to fraud.There are several types of fraud - most have to do with intent and the actions taken prior to, during, and after the fraud takes place - and all can be argued one way or another.Pretty much every single purchase money loan has a due on sale clause - if you are maliciously trying to sell a property without paying off the loan, yes, that's Intentional Positive Fraud and you can get cracked on it pretty good.