Land development is a very technical space and there is a lot to know and watch out for but is very rewarding and lucrative when done correctly.

Is there anything else I need to do in order to establish this property as an asset in my books?

Sorry for the random stream of consciousness; Honestly I think HC and NYC don't have a lot to fear long term.   

I definitely have a lot to consider and am still putting together my team, but if the property is in decent condition I'm leaning towards managing myself.

Another option is SEO which is free (cost a lot to have someone do it for you or teach you though) and very profitable if you do it right and are ranking #1 in your market.

I travel a lot to Atlanta and had a serious thought about investing in a apartment by either renting and subletting or purchasing a apartment and renting it out to air bnb type platforms and traveling professionals.

A few benches out back or a paver patio doesn't give them a whole lot to work with. 

Thank you for the shout-out, @Daniel Hyman@Derrick Williams I agree with Daniel that you will not be able to get any established accountant to accept your project 10 days before the deadline.

At this stage, buy whichever type property meets your pre-established cash flow criteria.

Then the city established new rules re-classed my units as commercial and the county taxes went up a LOT.