If you are keeping this as a rental I'd factor in some repairs down the line, HVAC, water heater, etc.

Check with your building regs department and see if it is available to build on, some or most or all of it could be limited as green space, water retention, flood plain or other issues as it is built up all around the subject property.If it is available, you said it could be obtained cheaply, how would you know that....is it listed?

Agreed, might suggest you look at doing business in the 50,60,70 range as there are motivated sellers and you might consider options and flipping them, that is no more brain damage than an 8K property and probably less......IMO

We had one in Idaho, widow with four kids, who skipped after causing damage all because she had to pay a $75 late rent fee.

I have a condo where the next door neighbor's washer is apparently leaking and causing damage to my unit.

Landlord will pay for a lot more than hot water (and water, I assume) and trash.

But her biggest challenge was severe pet damage and not wanting to show the house.

If you were going to put 20 units on 2 acres there would have to be another method of dealing with the waste.Also, drilling a well for that much use may trigger some water usage regulation concerning the water table.

Maintenance and utility expenses (Electric, Water, Landscaping, etc)5.

The area I purchased is landlocked, surrounding by water on all sides and is known as the peninsula.