I know this is an older post but I wanted say a few things...Yes- there is an actual town called Niceville....it is wonderful.I am a real estate agent here and former financial planner turned investor after realizing that 7-8% on a good year was not enough in the stock market.Let me know if you haven't found a favorite- perhaps we can help each other.

You'd have to reach out to individual city planners to find out their requirements. 

Wilshire Blvd, which urban planners at UCLA consider to be the future corridor for metropolitan growth in the city of Los Angeles, is two blocks from where I live.

They have a planner person you can sit down with and ask, they’re helpful. 

It does not cost anything to go to the city planner and ask them what can be done with the lot. 

I'm trying to figure out, big picture, if this is worth it and I would DEEPLY appreciate the advice of people who have been working with real estate (investors, financial planners/investors, people who just know a lot more than me) sharing your invaluable advice. ;-)Quick facts:Current mortgage of $204kCurrent Appraisal in Austin market is around 330-350k (could be more, but that's being conservative).

However, it may serve you best to contact the jurisdiction and go meet with one of the planners there.

The court said they had not met their required due diligence of that era.A few years later, I was a product planner in Silicon Valley and took the course Products Liability.

As you can see there are many ways to manage taxes, you just need to sit with the tax planner and give him the detail. 

I am speaking with an Elder Law Attorney this week as well as her current financial planner.