However, the challenge with MTRs lies in the CC&R (Covenants, Conditions, and Restrictions) and HOA (Homeowners Association) regulations.To proceed with MTRs, it's crucial to carefully review the CC&R to ensure that leasing out a portion of the lot to tenants is permissible.

You gave me such great advice a lot to consider.

. $30K may be insignificant to you and the other nay-sayers, but it means rather a lot to most of the rest of us.

Usually, I would say this is a lot to bite off, but you are young and already have a single family so you aren't a total noob. 

I would assume that you'd just simply sell each individual lot to the developer at a set lot price such that your cost to purchase the raw land and improve it to buildable lots was worth the proposed profit per lot.  

They work in every area and a 2 bed, 1 bath does not take a lot to furnish.

I'm going to look for a different property but you gave me a lot to think about.

Now if a marketing company is bringing you buyers ( like what happened in FLA) were the buyers are putting up BIG non refundable deposits etc. that is worth a lot to a builder and the marketing company deserves comp for that.

Just watch out for HOA fees because they can be higher in boutique projects if they have a lot of amenities, not having an elevator will help here, and if one owner stops paying it can mean a lot to the other owners. 

Any tips, advice, or guidance you can share would mean a lot to me.Looking forward to learning from this community and sharing my journey as I progress.