But then wouldn’t I be losing all the gained equity in our primary home?

I have found Memphis to be a little too pricey to consistently cash flow now though.

I originally thought this would be a low cost route to documenting the issues and alerting others.

Do you anticipate it being vacant through the winter.

Landscaping and snow removal on a multi should always be done by the landlord.

They should be able to assist you with this.

If they do something wrong, the first question should be have we trained them on this?

Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)Approx 1 acre of non-recoverable flood zone along length of creekTwo small ponds on the property, which can be filled in to utilizeSmall neighborhood to East of property line with utilities ready and available for project Currently a couple of older homes and barn structures on property (100% liveable and well maintained)Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinneyLarge developments are underway within a 1/2 mile to 3 miles out radius<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospitalAT&T Fiber and Atmos Gas at front of propertyA water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)A CE firm has drawn up plans for a small, 12 home, 3/4 acres development.

Your note would be $650k so you’d be receiving $45,500 in interest annually initially, and paying out $13,500, so net to you is $32,000 annually in interest.  

Nothing is owed on the inherited property.My question is, with the costs of building new still relatively high, would it be better to subdivide and build on the current property or use the equity of the inherited property to buy another separate income property?