I've worked as an architect in the Seattle and King county area and give you just the briefest of overview of the planning and permitting process.I would start with the zoning code and review the development standards for the adjacent single family zone.

Of course;-)Best quick example I can give is Marblehead $11.08/$1000. and Swampscott $17.18/$1000 adjacent towns where I'm very active.

I used to construct wetlands, to replace wetlands filled in for development, but these were usually on site somewhere, or an adjacent property.  

Yes, but that is quickly shrinking with the rising cost of property taxes, insurance, security, cable, wifi, lawn service, PM fees, cleaning linens, book keeping, pest control, furniture and appliance maintenance, power and water, etc.Also, we bought the property new in 2018, rented it for a couple of years as a LTR and then when we went STR, we had to put over a $100K into it to upgrade it to luxury status to charge for the higher rents.The property has a great location right in the perimeter, and near to the Atlanta Airport, so that is what it had going for it. 

If you want floors that will handle a fire or allow for one unit to go up and have any chance of saving the adjacent unit you will need to look into building fire rated assemblies where the majority of their resistance to catching fire is based on the materials that face the framing ie. gypsum board. 

The land is adjacent to the county road and basically right in the middle of all the new construction going on.

I've visited Cheyenne a few times in the past.. the distance to Denver airport seems OK to me so I'm looking there to setup a home base.

That's a tall order.West Seattle has some beautiful views and beach line, SeaTac & Tuwila have, well a very busy airport and a shopping mall that gets shot up.

The North Charleston shipping port is out of control busy with many companies re-directing product to that port, and Boeing's new facility at the airport has created a lot of new jobs and a huge demand in housing.  

The 2 properties are next to one another and look to part of a new home community-or at least adjacent to one.Thoughts on selling stocks to buy and hold land for a year or so?