Worst case scenario we will have the whole street from the hwy to the bay and can build spec houses on it or sell it outright as bare land.  

Dependence is a word I hate and unless people have a warning sign shoved in their face, they will always "expect" rather than "find".

Since you'll be next door you can leave a letter or something with contact info but you will, of course, eventually meet them face to face. 

Then again the whole premise of entering into a purchase contract with no intention of actually buying the property seems wrong on its face.

It's pretty neat to start recognizing many of your names and faces on the forums.

That said, they're more expensive, have fewer buyers (though the market around here has been very active for that property class), so if you decide being a landlord isn't for you you may face a longer time to sell.Also, with larger properties you get into efficiencies of scale, where by having more tenants, maintenance issues, etc, centrally located, you're able to deal with those problems with less travel time and operating costs because you/your handyman can do multiple repairs without having to drive between multiple properties. 

And if so, what consequences I am facing?

At some point, the bank has to sell or face penalties.  

I would not plan on investing this year with a score as bad as yours appears to be.To get a head start on investing you need a much higher score than the bare minimum requirements.

I owe $182,00 and FMV=$225,000Challenges I'm facing: my Debt to Income is too high if I can't count my rental income.I have only been a Landlord since July, 2015 (so under 2 years) with my first rental.