If it looks like you can subdivide, then you can sketch out a preliminary plan or several variations to give you a sense of how many lots you can build.     

Depending on your market it may not make financial sense at all.

Montgomery county, and now Frederick are becoming too expensive for it to make sense for us right now.My biggest surprise, that's a good questions.

Does it make more sense to buy commercial lot instead?

At that point you should know if the deal makes sense.

Reducing rent sets a precedent and can attract price-sensitive tenants rather than those prioritizing quality.Negotiating renewal terms can make sense if tied to benefits like lease length or tenant stability, but always ensure it aligns with your long-term goals.

It makes sense to me but I foresee that to be a contentious point, even more if they end up not getting the rental.Thank you in advance!

It is not passive in any sense of the word.  

We are wondering what would be the best option to do with the property during this 6-7 month period, whether that be Airbnb or what other short term rental options might there be that could make more sense?

Matt--what actions/behaviors did you observe that caused your "spidey-sense" to tingle on this prospective tenant?