Plus, the population growth and job market around Tampa keep driving rental stability, making it a solid choice for both cash flow and long-term equity.

It's in a rural town so I'm also worried that demand might not be as high as in more densely populated areas.I'm planning to call local banks this week to understand financing options and contact some contractors who might be interested in building additional units. 

@Rosmery ThenMy partner and I are in the same situation, just he has 20 years of construction and development experience.

Honestly, I never fully understood what they meant—until recently.I’ve been diving into some larger-scale real estate projects, specifically in commercial properties and multifamily development.

That seems extreme to me, but even if is only 10% of that, that's more than our States entire population, the implications are supermassive. 

Eastpointe has a semi-decent school district, and the area overall is seeing a population growth.

This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.

Some things have shortcuts, but developing relationships isn't one of them.

We’re developers managing our own portfolio and don’t have any outside investors.  

The developers pushing agents to sell one of their townhouses as a STR really inflated the asset cost cause they were pricing it on a revenue structure, not asset.