With that being said, in a worst case scenario, you can always hire a property management company to handle the day to day items if it comes to that. 

There’s normally action items that can be implemented into your management process that are more effective. 

If this is a big-ticket item, you might consider legal action against Airbnb.  

Compliance items such as adding smoke detectors, hand rails, fire resistant garage entry-door and new stairs outside.

I would simply hire a good civil that has done development in that jurisdiction and pay for a feasibility study and let them run through all the check items.. but thats really just the start.. also for context .. these projects require 350 to 750k in CASH up front to get to approved plat status ..

I would only recommend purchasing items that fall into that vision. 

What is the speed of the internet, is it hot water (international property holders), is it AC.These basic clear descriptive items are great because if the price is fair and it clearly states the benefits.

But, on the other hand, if your life is very busy with your w2 job or you have a family to take care of, then maybe having a property management company will do you well and just worrying about larger items.

You make the payments to the lender.Oh, and just in case, there are more items to know about when considering a "sub to" transaction but this is just a comment on the payment aspect. 

This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.