You can train them in your systems for when something goes wrong and who to call.

There may also be local zoning or regulatory hurdles, so it’s important to ensure that dividing the property won’t create any compliance issues.

I look for a return of at least double that, so 162k * 2 = 324k.

If so, do you have any advice on this particular situation with regards to insurance coverage?

Just keep in mind that some lenders have a "due on sale" clause, which means they could call the loan due if the title changes.

We have it under contract $30-50/SF under recent single family comps, so worst case we convert it back at exit and still cash flow in the meantime as a rental.

I'm a 15 yr broker in the area so i worked with agents, lenders, neighbors like crazy.

To land another FhA without refinancing, the 100mi distance is going to be the main requirement OR underwriters want to see a major life change (having kids so you need a bigger unit is the most common scenario).

Doing so would increase revenue to my property management LLC but likely has some downsides I'm not aware of yet.

This is a lot of land so also keep in mind the logistics of how guests will arrive to their respective sites, parking, guest interaction, etc.