Hi I have a unique situation on my hands.

Now I am in San Diego and am interested in purchasing a cafe which serves unique Kina Hawaiian coffee .

Another plus for an NNN, rather than a PM, is that the lessee has a vested interest, and would do a better at it than a PM.As to my professor who did all the NNN deals, his family had a real estate brokerage firm of many years in NYC, he was the one running the leasing division, so he's able to approach old retired landlords with some authority, not a newbie who just finished the Carleton Sheets course.

You can also diversify much easier and cheaper over geography so you are less exposed to the risk of a single metro area experiencing the loss of a major employer or other unique problem and messing up your returns.

Just do what is average and not unique to the area you choose. 

And that creates a whole new discussion along the risk/reward continuum that will be unique to each individual.  

What you have is unique.

He says there is a 'new' sub division around the lot, near the front entrance of the gold course, but zillow is showing the newest house built around this area is 2015; time is apparently relevant.It might still be worth the effort to contact one or two of the major developers in the area to gauge any interest.

Woodlawn lake is a good area and supports both flips and buy and holds so it is a unique neighborhood for sure.

I am still looking for NJ state website http://www.state.nj.us/dca/divisions/codes/offices/bhi_faq.html#5 for the answers.