Quote from @Stuart Udis: @Robert Ellis Location Location Location...There is limited land supply in markets with high demand and high barriers of entry.

They were perfectly acceptable 20 years ago, but now many areas are limited to one guest per calendar month. 

However, prices for a comparable 5-bedroom home in Washington are significantly higher, likely around $1.5M or more, which would mean taking on a new 30-year mortgage with 6+% interest rate and limiting new investment opportunities.2.

Under the PAL limitation, only passive losses can offset passive income.

You have limited time as well.

Your options are limited. 1. 

The city wants to tear the property and surrounding properties down Zillow said it’s worth 38000The city offer me 13000.I could use some adviceHard to give advice with limited information, but as a general rule, the longer you wait and the further down the line their project is the more valuable your property will be to them.Zillow (and all automatic online) estimates are very unreliable, so don't base on that.

By diversifying, but still investing in the most promising deals, you limit the possibility of a devastating loss without limiting your upside.  

I limited each season to 20 people. 

Most institutions have a 70% limit.