There are two main ways to utilize this exemption.

I'd be more worried about supplies to build houses (eg wood for the framing). 

He seemed very authentic in our discussion and showed charts indicating how the cost of supplies has increased more over the last 2 years than they did over the last 20 years.  

Price is often not the main or the only concern for the seller, they have other needs.

Main reason to split the lot would be to maximize the lot for cash flowing rentals.

It's a combo of low housing supply, higher interest rates vs. seller expectation, and a poor economic outlook for the country.As an investor with a few rentals it's like like the parking brake is stuck on.

The supply and demand are pretty balanced.Most of our growth over the past 5 years is from in-migration from more expensive states.

The Wichita market currently does not have enough supply to meet the buyers need. 

Water and sewer about 200 yards away.  1 mile to the main highway.  

Here’s my two cents:Paying off the condo might make sense if your main goal is to reduce risk and enjoy the peace of mind that comes with no mortgage.