That being said, I have seen a couple of examples near my area where the main home is large enough with almost 2000+ square feet and multiple bedrooms and bathrooms that her family can live comfortably in while the other unit was a bit smaller and help offset the expenses. 

As we have 100+ year old trees on the property, as well as a pond and year round stream, I think it could also be used for a tiny-home or tiny-office (commercial) community, which would allow me to maintain control of my property long term and providing recurring revenue to me (my company). 

Looking for advice on a creative finance deal in Round Rock.

Some info: - Combined lots would form about 5000 sq feet. - Currently zoning allows for 2 unitsThank you all in advance! 

A basic breakdown is this: If you're in Flood Zone AE-9, it means the Base Flood Elevation for that home is determined to be 9 feet.

Quote from @Silas Melson: I’m trying to get my feet wet in real estate investing, but I’m drawn more to the passive route.

My other concern is they are supposed to be building another round of these and they can't fill the ones on my street. 

Honestly it sounds like you're trying to reinvent the round wheel with a square wheel here.

@Andrew Garcia, I would take a look at rents for a similar size (square feet and bedrooms) property so I’d have an idea of what the income might be.  

Look for areas that are going to generate a lot of visits year round.