The land is in a shape of a triangle I will attach image below and it is a total of 124,502sqft The issue there is power lines running on it towards the south part of the land (See images) With that said I am trying to figure out what I can do on this land I was thinking limited restaurants like rent it out to food trucks maybe 8-10 food trucks but the city is still going through the process of approving that.

Get pre-approved. 

The rent increase request has been approved by the housing authority with higher rent obligation from the tenants so I need to wait and see what the tenants decide to do! 

And as a reminder, ALWAYS get an approval (for your refinance) from you mortgage broker BEFORE you buy a property.

Would be interested to see how some other agents are successfully getting their offers approved. 

There are some properties around the area that are 350k and I would hope to get approved for something around there.

When I approached the same major bank currently handling my mortgage, they told me I'd easily be approved for a 150k loan, cutting my monthly payment in half, and locking me in a 15 year rate of 2.8- 2.9% instead of my current terrible 5.5% rate.

I have done my research but cannot find anything that outlines this besides all STR's require an approved permit by the town.

@Meryl C to get an idea how important not doing a complete demo can be we had a friend who had a lakefront house, they would not approve a plan to rebuild. 

Your bank or investors already approved?