If you think there might be the possibility of development raising the value in the future, you could try renting out the property to others for non-intrusive uses - parking, roadside vendor, etc. 

Specifically, something where we as agents could network with each other, vendors who support our business, and also investors in the BP community.

Carry appropriate insurance (property, general liability and make sure you are listed as additional insured under tenant's renters policy and 3rd party vendors).

You need to have sources (agents, wholesalers, GCs) that bring you opportunity that they have mined and they are bringing it to you cause they know you buy.To the vendors of the industry: Agents, Wholesalers, GCs, PMs, what have you...you are nothing until you buy something, until then you are window shopping. 

I also wouldn't be where I am today in terms of my contacts and relationships with vendors, to be in a position to self-manage confidently out of state.All that being said, if another deal with the same amount of hair on it presented itself to me today, I would pass simply because my risk profile has changed.

I have also purchased using Real Wealth Network, and they do a much better job of vetting the local markets and providers and will stop recommending any providers or vendors if investors are giving poor feedback. 

That said, I have a nice stream of passive income (including math freelance jobs to keep me busy), and a lot of time on my hands, as well as experience with materials and vendors doing home renovations.

OpenPhone has been a great tool for communicating with property owners, vendors, and generic main office phone calls. 

The market is a bit trickier because you need to be a good host to the residents while being a good vendor to the paying client.

Also, the owner expressed concerns over the capital gains tax early in the discussion...so I am thinking the opportunity to do vendor financing will help me get a good purchase price and help the vendor with taxes.