I think you also need to work on the interior improvement. 

I am okay with waiting on making any improvements during this period if I can get it at a good price.

Right now the money is sitting in a savings account making a sweet 1.75%, so 5% would be an improvement, albeit a much riskier option.

So if all lots are rented total yearly rent = 300*12*35=$126,000Estimated expenses, let's say  35 % of gross rent $44,100Net Income = $81900at 10 Cap $819, 000  (Cap rate depends on the area, capital improvements required etc) 

I ended up printing out some documents from different pages of the website, including the Fair Market Rents for Florida (my state), the Housing Market Indicators Monthly Update, and the Housing Market Profiles. 

Whatever you do, be careful and invest in a growth area a diverse city and where you think we are in the real estate cycle. the age of the subject improvement and if there are any possible subject construction items that need to be covered up or removed by a special contractor.Good luck to you!

Check out the recommendation that I wrote on his profile page, and feel free to PM me if it would be helpful to chat about my experience.

We started with these goals:Business partner wants to retire in ~6 years.I want to retire in ~20 years.We want to have $120k in cash flow by year 6 and $600k in cash flow by year 20.After buying and improving each business or property we want to outsource management.With these goals in mind we came up with a plan to invest $220k per year for the next 5 years ($1.1m total excluding capex), purchasing one passive income business (apartment building, storage units, ???)

Also, provide the buyer with other records such as copies of the current rental agreement, record of deposits, move-in condition report, and record of improvements made to the property since the tenant moved in.

AND you'd have no right really to go in there and disrupt the tenant's lives to improve the units so you could get higher rents or sell the property for a premium.