This is the first time I've heard of such a thing as a land swap, especially between a municipality and a private entity.

I’m also open to exploring short-term rentals, private lending, or passive investing in funds—anything that maximizes returns while keeping risk and time commitments manageable.For context, I’d consider leaving my job if this could become a full-time venture that surpasses my current compensation (low-mid six figures).

If you own the balcony (check CCRs, I have a unit where I don't own my private balcony) then it is all part of the unit.As an owner, you're on the hook for the actions of your tenant.

I financed the acquisition of the land with personal and private money.

Or just use private money. 

David, Send us a Private Message and we can schedule a call to see if you fit the group. 

Having reasonable expectations, hiring a local professional (Realtor or PM), doing your research, and doing everything right (i.e. pro photos, professional design, good renovation, proper amenities and location, etc) are the keys to success in 2025.

and the property had a private dwelling value appraisal much higher than the public property appraiser claims. 

It's not difficult (shouldn't take long) to get flood insurance quotes (NFIP & private) if you work with a good agent.

For short-term gains, options like private lending, where your IRA acts as the lender, can provide consistent returns through interest payments.