We are just down the road in Queen Creek.

You're right....we were back there in 2011 & 2012 visiting family.My 1st home (1968) on Nth Tce Nth Adelaide sold a couple of years ago for a LOT & most of the front yard was gone due to road widening.Our large home in the Seacliff area was been torn down & 5 town homes were built in its place.

Even though they're no money down I normally have some reno costs and closing costs and so on.Truthfully though I feel that doing as many deals as I can like this will produce the bigger pile of cash at the end of the long road ahead.

Anyone thinking down this road needs to see an attorney! 

Should I sell the current property and use the gains to invest elsewhere (less expensive rentals) or hold on for potentially greater gains down the road? 

For now they leave them on the side of the road leaving them open to be stolen. 

Dreams of savings down the road go away when they factor in the additional mortgage cost created by that extra upfront cost.When I was still building in Northern Idaho and put in energy efficient devices advertising them was a negative and several asked if I would take out the non traditional high efficiency tankless hot water heating system.I build to green certification standards but I am  not willing to pay the inspector for certifying them green especially since he had to approve the plans for the homes to be built.I wish you much luck and support your intent but the reality, at least in my experience, is people are willing to talk about being green but won't pay extra or go out of there way to be green if there is even the slightest hindrance to their life style.  

If someone puts in money and doesn't have control over the outcome, you've bridged into the paragraph below.SecuritiesYou say that you don't want to go "down the SEC road", and I get that. 

You provide the service upfront and expect to get paid down the road.

If the length of the drive isn't that bad then people might be able to park at the street and walk up but generally not if it's a far distance.Also keep in mind if the house rental is on a street going commercial that being on a hill is bad for resale depending how steep it is.When you develop a parcel for commercial you want the tenant to have great site lines and ease of access from the road.