I'm curious to hear which of the two properties you all think I should put the money into. 

Would it negativly affect my mortgage, or do I need to notify my lender at all to build the second home on the lot and then figure out the lot split later if it's necessary for renting or selling the new or original home? 

Are all posts going into dirt or are they patios/concrete anchoring to contend with?  

Personally, I just communicate with my tenants that we keep the HVAC (in florida so rarely need the furnace) above 68 degrees at all times, and that it is best to keep the HVAC above 74 degrees during the hotter afternoons where the ambient temp is in the 90s.

Capitalism is all about meeting wants and needs. 

All bedrooms are on the 2nd level and there is a big open loft area with windows on 2nd level that's not used much now.

A planning and zoning commission can generally not turn down a development with affordable housing that meets all of the state and local requirements.  

title says it all

Too many investors get scammed into buying the wrong properties in the wrong Neighborhoods:(That's why we're working to list and rank all of Detroit's 183 Neighborhoods on our website.

For raising rents, you can do it gradually and possibly keep the tenant, or you can do it all at once and at that price increase you'll likely lose them.