At that point it's a pure investment and essentially a commercial item.

Fortunately, we have very little debt and one of our rentals is fully paid off so that income is pure residual.  

The only way I'd buy a pure rental like that is if I could build myself a substantial equity cushion through forced appreciation, much like a flipper would only hold after rehab ... then you'd have a solid appreciation return early and could likely improve cash flow that way as well.

Investing for appreciation is the same as investing in the stock market...you're leaving market forces to drive your profitability...so at this point it really becomes purely an individual decision.Just someone's .02 on the matter. 

If you spent half as much time out living life and doing things that bring joy to your life maybe you wouldn't be so angry.

way to broad of a question who knows.. you never know till you try and work with the city and your consultants.. certainly can't make any decisions asking hte internet folks thats pure folly 

That’s pure ******** in my book. 

Is there a good resource (podcast/book) for being a pure investor and how such deals are typically structured? 

(Actually working on a flip now but have maxed out my child care for it, the joys of flexible schedules can be limiting sometimes :)Good luck!

Lol, it’s a purely debt ratio issue for you.