I am leaning towards buy and hold as the home is in a top school district and has a new major roadway in the area bringing in a lot of new commercial & residential building.Any thoughts as to buy and hold or flip?

How close to major transportation or major roadways?

Many areas require that minor subdivisions provide all-weather roadways that meet specifications to be granted over to the public, an engineer can give you an estimate there.

I think this is a rich mans game, if you have a great space near major roadways it can be attractive for heavy construction, garbage companies, big landscape companies, ect, however if your tenant leaves there is not an abundance of 'industrial tenants' the same way there are people looking for an apartment to rent.

The only pitfall that took some tiem and work was obtaining approval from a neighbor to obtain an easement or right of way through their property in order to make the roadway to access the site.

The trick is to learn how far you should be in the roadway and when to stand on the side of the left side road median.

After the downturn end economy, several of those jurisdictions restructured their permitting and inspections process, significantly increasing fees, subbing out inspections, and last minute imposition of right-of-way improvements ( roadway improvements, etc.).

These rentals are close to my own residence and driving by I took pictures of the condition of these yards which showed not even a stick by the roadway. 

The Town is likely acquiring ROW from other parcels assuming this is part of a larger roadway improvement project.

I haven't been to the property myself but I would assume that you cannot since there is a roadway and another home between our property and the beach.