However, the lease back was for only 60% of the space.

The lot has about 20 parking spaces on it and is being used by a restaurant that shares the driveway with it. 

For farm rural property loans, will be harder to come by if you want to get money out of your property, a good rule is to plan on keeping a land property for at least 10 years.If you goal is more cash flow related, you might want to look at buying single family, duplex, triplex or quadplex properties, these are the easiest properties to finance, and there are hundreds if not thousands of lenders in this space. 

Although I myself had been using it, I can see such a space nowadays used to run a home business or remote work requiring more home work space.

This would depend on the location, I know in Texas the RV parks are generating $300/space/month in income, you are easily seeing 30% ROI for RV parks.

We fenced in the property and added a fence in middle of backyard to split that space too. 

I have done different developments in the past, but do not have a proforma to fit the type of rent/construction for flex space.

I have been in the lending space for a handful of years now and recently had the opportunity to open up my new branch in the great community of Fargo. 

Turn the space into a leisure common area with bbq area and fire pit and you likely won’t see much loss in rent or turnover time.

The current concentration of most in that space is trying to hold long term.