Keeping this story short, neither one of those options were feasible, and I wasn't experienced enough to know anything more than what they were telling me.

I am trying to come up with as many feasible revenue sources as possible while writing the lease. 

You have to weigh the risks with the rewards to see if it's feasible to do any type of strategy.

The feasibility of such a prospect seems very difficult in the current real estate market in LA coupled with the sheer lack of deals available.

It might not be feasible, you only have .3 acres.

Do you know what size home SF could be built in the AreaWhat it would sell forThen start to work the numbers backwards- Construction costs, land/teardown costs, profit, etc.... to see if its feasible to proceed Brett Wininger

Are they feasible in the real world?

Theoretically feasible.

Make a calculation if that is feasible for what you are trying to accomplish, otherwise try to come up with some other creative financing solutions.

I work with investors who fix and flip using hard money and cash so im always running numbers to make sure deals work, the profit margin is there, the ARV is solid, and the rehab is feasible.