So the above, is directly in response to your question/strategy BUT, I would certainly consider NOT SELLING THE LOT NEXT DOOR... especially since you said you're seeking 'additional cash-flow' -- if you sell, it won't be recurring cash-flow instead it will be a one-time infusion of cash into your bank account and then its done AND you won't have much control on what happens next door aside from what restrictions you have placed in the deed... why not instead of selling consider... offering it as a 'ground lease' whereas, the person seeking the lot is allowed to build on the lot but then will pay you rent for the use of the land... this would be similar to some commercial agreements or even mobile homes where the tenant owns the structure but you own the land on which it sits on.. it's also quite similar to how McDonalds and some other franchise businesses operate it's how they are able to ensure that the properties being built are built and operated in accordance with their vision, if a tenant does not build it or operate it 'correctly' then the Landlord will have leverage in ensuring that it is rectfied... because after all you do still own the land and may terminate lease if the terms are violated. 

This not only fosters the restoration of culturally significant properties but also infuses life into aging communities.

I didn’t know anything about being a landlord other than I didn’t want to do it and didn’t think my career was in a position to not have large infusions of cash from home sales.

This new factory and job infusion to Reno’s economy is going to dramatically impact housing.I predict that investors looking at buying Reno area single family and multifamily will be happy they did in 2024.

What you don't want to happen is constantly feeding a property in cash infusions with issues states away that is hampering the growth you could be doing locally building a portfolio. 

(Yes I understand you can flip/wholesale/yadda a house and make a great return, but what I am referring to here is the infusion of passive money... solo 401k/IRA, investment dollars for yearly cash flows, etc.)3. 

It's a Class C apartment that needs some (a lot of) capital infusion.

I am presuming you are not taking a secured lien on real property (you should)...I would not do this deal unless you are prepared to reduce your 100k liquid to 5k and monthly payments of 833.33 a month for who knows how long.If I'm a company 60 days away from a 12 million dollar infusion, I don't put myself in the position of needing a 100,000 band-aid.  

My spreadsheet for the property included an initial capital infusion at the outset to create a cushion to absorb unit turn overs, cap ex, etc until flow could catch up.  

(mitigated by insurance)4) Irregularly high vacancy rates5) Requirements for a capex infusion...new roofs etc.Thanks in advance!