If you have a lot of time and ability to tie up earnest money sometimes you get lucky.

Does this affect your permitting ability?

There's also a much lower degree of inventory of this type out there as people who buy houses in that price range are typically pretty confident in their ability to pay it off. 

If she feels threatened by this, it is a good indicator that her future ability to pay is limited.  

Look at your ability to raise rents or charge back for utilities and how you can possibly cut costs.

Ability to provide affordable housing for people not wanting to buy or can not qualify for a mortgage loan.

I see a ton of potential being 2400 sq ft and the ability to build on to the back.

Plus the ability to move quickly to close the deal would be very helpful in the deal making process.

In our contract she has agreed to allow me the ability to show off the property to potential homebuyers.

Then renewal fees every year can be a burden but again at this point in one's REI career, the cost is outweighed by the opportunity.For a simple breakdown, here are the pros and consPros: MLS access, not reliant on someone else to see the MLS or to literally go view the property, ability to make money off of it, list your own deals..Cons: Fees (annual and upfront), continuing education of laws and regulation (i.e. time not spent on finding deals), always legally disclosing you're licensed, dealing with brokers taking a %Now, these aren't all the pros and cons but certainly some popular ones.