Its only value is to the neighbors.the current owner no doubt bought it at tax sale were these odd strips of properties are usually bought and sold.My dad owned hundreds of these in CA .. left overs from tracts he developed he let them go to taxs each year some one would buy them and we would get the overages on them  LOL.

My business partner and I met earlier today and discussed buying a tract of land to develop for MH Park.

I come for a production home background and have built over 500 tract homes.  

I know when I am looking to build a new housing tract or do some other deal the first thing I do is line up my capital then I go shopping..

The Seller says the tenants have a perfect tract record of paying rent.

Even if they do appreciate for a while with the overall market they will be hit hard during recessions, and last to re-appreciate due to the undesireability of the longer commute times.I think your idea of a lakefront place makes a lot of sense versus buying tract homes.  

Easy commercials from residential, IMO would be small apts, a tract of duplexes in a development or similar complexes.

Most tract builders are pretty much the same, but there are differences.

Thirty-three (33) tracts went on market in June '22, sold out within 6 months, despite rising interest rate environment in 2nd half 2022.

Qualified use refers to real estate held for investment.Now here's the exception - if part of that farmland is the tract of land you live on then you actually own two properties.