If you have a way that this above is something profitable and great, please, I am all ear's. ....zoomed out to the point where you're likely looking at ~100 sq miles of urban living here.....FYI, Detroit in it's entirety is 139 sq miles.

Simply subdividing the land would not be a breach of the mortgage... the lender's secured interest in the entirety would not be affected. 

if it was a primary first and not a rental first, and you’ve lived in 2 of the last five years as your primary in its entirety (not 1/2 of a duplex, 1/3rd of of triplex, 1/4th of a quad, etc.) then you will avoid the capital gains tax and just pay the depreciation recapture.

You and your wife are on title as tenants in common or is it a tenancy by the entirety?

Likely you will be paying for them to re-do each unfinished task in entirety.  

@Jay HinrichsAny president has very little to do compared to the entirety of the economy.

In the state of Nevada, HOA liens take priority over 1st deed of trust, 2nd dot, heloc and etc.Now what I was staying before is that when owning a foreclosed hoa, it is still subject to the dots but has a right to be paid off in its entirety prior to other loans.

I would def say sell for another property and extract the entirety of your equity if the ROI on this property is going to drop below your target number and you can do better elsewhere. 

That's $675 off the bat, or $56.25 monthly over 12 months, assuming the tenant stays for at least the entirety of the lease.Doesn't seem like a great deal, but the price and owner financing seemed so great, I just wanted to make sure that my numbers accurately ruled it out.

You need to understand the process in it’s entirety before going that direction.