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.  

In your second post you recommend hiring "a legit STR manager and pocket[ing] the profits".

Option C: Sell and cash out.Pros: get 10 years rents profit in a day.

Sounds like it could generate some good monthly income, but it could also be a hassle being that far away and only 1 property.Yes, but we have friends in Fairhope that manage rental properties so we aren't as concerned about that. 

In other words, the cap rate becomes fairly meaningless upon transfer.Your job is to assess whether or not you can make a good profit after buying the asset at whatever the sale price is. 

Ideally, I would love to buy a multi-family property and rent it out, I would consider house hacking but I mainly want to my first property to be one that I can improve on and have it generate income for me.

Not a great time to be chasing marginally profitable deals.

If the note holder purchased the note at a discount he can accelerate his profits and increase his ROI by offering the borrower an incentive to pay off the note early, or to make e extra payments.  

With careful planning and a willingness to learn, house hacking can be a rewarding and profitable investment strategy.

.: No longer a rule, just a ghost in the past, A relic of days when profits were vast.