Sorry for the ramble (classic me), you are in a great position right now and you have multiple lucrative options available to you.

Most all of the structures are fairly temporary in nature of construction, so down the road, re-purposing the land would be incredibly easy. 

@Ashvin Dewan,It's a classic stand off. 

Classic BRRRR method.

I seem to recall there was stuff like a 24 hour on site manager required at all complexes (crazy and would put most small folks out of business) and a no income source rule that would force all but the higher end rentals into Section 8 whether they even understood it or were aiming for it (classic big penalty, stigma and lawsuit for violations).....I mentioned the small time folks may not all be interested in Section 8 or set up to participate and handle that market.Oddly, the assembly's goal was more housing, better managed housing, more affordable housing.

Me and my business partner are looking to purchase our first investment property, classic House Hacking style!

Austin vs Dayton...if they were classic cars that might be Porsche vs Pinto on average.

@Wayne Brooks  this is text book or Classic what can go wrong in sub too and with folks that really don't know what they are doing.. if the underlying mortgage is in

@Grant Music This post is so classic.  

—Uber founder and former CEO Travis Kalanick has taken the reins of a Los Angeles-based real estate startup, following a $150 million investment through his new fund, 10100.The small firm, called City Storage Systems, is focused on the redevelopment of distressed real estate assets.That primarily includes parking, retail, and industrial properties that “will need to be repurposed for the digital era,” Kalanick wrote on his Twitter account, announcing his fund’s purchase of a controlling stake in the company.Kalanick will become CEO of the 15-person company and expects his 10100 team “to be highly involved” in operations, he said.