I'd build up and go for at least 2 units but 3 stories is better. 3 story walk up apartments account for almost 65% of apartment developments round he country. this is what I'd recommend on your lot. this is 35' tall and we do it in columbus oh 

This gives you a BONUS because they can serve as a backup heat source.

@Matthew McleanBigger Pockets is a great place to find an accountant specializing in real estate taxation.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

Bonus: most managers are licensed and can buy/sell on the side to increase income.

That one will take a year, but then it will get 25K a month on 2.5M, and there is an RV park as a bonus.   

Do you do it year-round? 

•If your goal is stable long-term tenants, you may want to target young professionals or grad students who stay year-round.4.

I think that Chat GPT hilariously acknowledges, however, that if this person then goes on to run for governor of Colorado, then, despite their likely lack of time and attention to the money I put into the investment, that they are likely to put up phenomenal returns as a nice bonus of either being in office, or being a threat of attracting any meaningful percentage of the vote in that state before dropping out and endorsing an eventual winner.

If it earns interest that’s a bonus.

Those buying to mitigate year end taxes for the 80% bonus depreciation.3.