Even turn it into a short-term rental...profits would double, but I want to assume the worst and make the deal as advantageous as possible as is, so that if I can raise the rents, turn it into a short term rental, or even potentially get a variance and either build or sale the extra lot that comes with it, these are icing on the cake.

I guess I feel lucky I can have my cake, and eat it too. 

Buy for cash-flow, mortgage pay-down, depreciation and appreciation is the icing on the cake. 

Like an FHA I had to live in one of the units for 12 months but I luckily didn't have a single vacancy through my first year and was able to not only pay all of he expenses but cash flow a couple hundred dollars every month.Now my 12 months is up and my unit that is being rented out is even more icing on the cake.

The much needed housing that is planned for the development will be the icing on the cake imo.

So becoming the best baker in town so you can charge a premium for your bread and cakes is dishonest?  

Is the saying; "Have your cake and eat it too" or “Eat your cake and have it too"?

Taking the cake and eating it too, I don't see you having it both ways.The clerk or specialist you spoke to at the MLS probably was not their attorney.

so the kid likes cake!

If it still cash flows at the lower number and you get the higher number it will just be a little extra icing on the cake.