It’s a 1960’s vintage, has parking that might fit 20 cars if done right. 8’ security fencing.

You could also do what a vintage trailer court in Bisbee, Arizona (The Shady Dell) did - put a vintage boat on dry land as an STR. https://abnb.me/2l8xN5qIKib

@Steven Maldonado Oh that pink and black wall tile is in amazing shape and that vintage look is on trend.

This 40 acres seems to me to be a great hidden gem.

Hillyard and Lidgerwood are in high demand right now for both investors and owner/occupied, Otis Orchards less so.There is not an area of or around Spokane that is a hidden unknown gem of opportunity anymore, as it was three to five years ago and beyond. 

Now use some of the 150K to find another gem like this one to generate some more passive income...

@Eric Greenberg there are still gems the further east you go, specifically in Port Richmond.

A great city with quite a few hidden gems. 

You don't want to be in a position to find people remotely, you might hit on a gem or you might have something that is less than stellar.  3.I have funds enough to buy a few properties outright and not have interest to pay, but would it make more sense to take a loan and reap the benefits of having less capital into the investment?  

@Cynthia Hanke you dropped a few gems there, thank you!