I don't want to rent it out as it seems like an electrical liability - and I'm not sure if renting it to others would be legally possible seems how we don't own the land.

But there are so many possible places to look, it gets overwhelming. 

I would like to get some additional ideals on how to possibly go about this though.  

So while some opportunities show good potential always take into consideration the downside possibilities.

But ya have to make some educated prognostications in life.Add this to the information your processing - What your talking about doing is eliminating around $4000 or interest expense (which is deductible anyway so really could be a real impact of eliminating $2800 or so) of debt in exchange for paying over $10K in capital gains tax (don't forget possible state gains tax as well).  

Would love to chat sometime over the next few weeks if possible. 

Low cost, possibly yes, but also possibly very time consuming and that has a cost.  

The mega site in Richmond, as well as Mt Vernon, will really change the landscape in these areas as they did in E-town when the battery plant came in play. 

The goal is to mitigate the risk as much as possible with finding a good location and solid property.

I learned it was possible to buy investment properties and manage myself from a distance.