The physical effort to rezone is not difficult, but it is often reliant on what the City ultimately wants in this area. 

We ended up moving and buying a single family house which was our ultimate goal.

As long as you have the reserves and financial means to handle this sitution.I/O is nice since its sort of the ultimate leverage. 

It's a great skillset to develop, but is ultimately just another day job.I think one of the best places to start when you are in this learning phase is to get around other investors that are actually doing it.

I do have many ties in Puerto Rico and ultimately would like to move down there.

Ultimately, I'd say trust your gut, stay open to learning and choose the path that feels most supportive of your success!

This is the ultimate flip/brrrr!!! 

It's a balance and depends on your comfort with leverage and how that impacts the DSCR, which ultimately impacts your rate.

Hopefully, it survived and is still providing jobs to the community.  

@Patrick Crehan you should be contacting your state's real estate licensing department and asking about this, or find a competent real estate broker or attorney to help you out.You won't survive your mistakes if you are asking for advice from strangers on this site.