Some context would really help, i.e. are we talking about commercial zoned land or residential zoned land, and if we are talking about residential land, are we talking about low density/agricultural or land where you could put an SFR tract or row townhomes or even a dense apartment/condo project?

On my end, I set my payment schedules, how it will be delivered, level of work I expect, etc.

Risk level is lightBut if the deal looks like:140k purchase160k rehab420k ARVThe above deal is twice the size, the rehab is more than the purchase price, the ARV is in a range where houses can take 3 months to sell. 

Quote from @Bonnie Low: Being able to pivot is crucial and it's great that you had multiple strategies available.

However, they also engage with contractors and service providers, suggesting some level of outsourcing.In general, a Housing Authority's management structure will depend on its size, the scope of services it provides, local regulations, and the organization's strategies.

STRETCH somewhat to get to the NEXT level, but a huge stretch is probably going to be a waste of time.   

Yes the next one will not cash flow unless a large down or you are out in the desert somewhere with low purchase price. 

Hangar space has a relatively low cost per square ft and it's not uncommon for tenants to shove cars, RVs, boats, etc into the empty space around an airplane but this will violate airport rules and regulations.PS I have on about a half dozen occasions seen private airports for sale on craigslist. 

Unfortunately this is a low income working class area. 

As the landlord we set the standard, I set my security deposit based on the risk level to me as the owner / manager.