Sounds like an opportunity for increase revenue from that property!

As inflation rises, note investors need to take a closer look at their costs. This is why it is first and foremost critical to understand the costs of owning a note.Things like legal fees, servicing, and insurance are...

The irs might argue that the 1 acre build site is worth twice as much, the other 9 are just standard value.

Once you have this team in place, you should be able to invest in any market confidently.As for picking a specific market - I would go after one with an increasing job and population growth.

Given that this will increase the scope of renovation significantly, I have decided to narrow the scope of the reno at this time.The commercial space is approx 1600 sq ft so its decent size and is enough for a storefront by itself.

Fifth, elements outside your planning or control can increase expenses significantly; tax increases due to budgetary shortfalls, insurance costs doubling due to natural disasters, tenant damage beyond what the security deposit will cover.  

Due to age of owner's (70+), money to be made selling ( rapid increase in equity), change in the market area (over crowded beaches/Pigeon Forge strip) and life changes (divorces/death) the owner occupied/2nd home owners sold. 

However, there may be increased tax complexity and formation/maintenance costs.

Another way to look at it also is if you have a rental and you can increase rent by $100 and sell it in a year for a certain value, are you better off selling it today at another value or holding it for another year and collecting income?

By building a home, you have the potential to increase the property's value, which could allow you to sell it for a profit or use it as a rental property to generate income.