@John Underwood   John is in your neck of the woods and from what I have gleaned from his posts these are deals he knows and understands maybe he would help you understand your risk/reward scenario here. 

I understand the 1% rule as it applies to charging rent but it seems unrealistic in our neck of the woods.

Flex that risk-taking muscle.

I feel like that would be a significant muscle move to hunt these people down to take a field trip over to assess and gather numbers so I can crunch my numbers and put an offer on this land.  

@John Woodrich Your neck of the woods is my home away from home.

It isn't much of a factor here as there is only one other tenant left in the building (beside myself) and they are on the brinks as well; all others were crushed by COVID.Sure enough there's also plenty more available spaces in other buildings in the area too.But that's not my major concern as the building is paid off and I do not have banks breathing down my neck. 

How’s the market looking in your neck of the woods?

You can also find a deal in your neck of the woods, FHA multi unit financing with 5% down payment and "occupy" the largest unit (per FHA guidelines).

Leverage is ...when we men typically do pushups we use our two hands to push our body from the floor, ( now lets say hypothetically (for some reason you have some atrophies) or weak muscles in your arms. and you need to strengthen them. 

It may be worth that, but seems like appraisers don't like to stick their neck out there like that.