Hey BP,I posted a little about this project in another thread but wanted to post an update here.

Quote from @Kevin Hilton: I am looking to acquire my 4th rental property, but I would like some advice from all of the seasoned investors in this forum. 

You need to understand the market, advertise to buyers, show it in the best light, know what to say and what not to say, be skilled at negotiation, understand contracts, and much more.If you don't know how valuable a good agent can be, it's because you've never used one, or they made it look easy because they are skilled. 

Would a court allow you to collect twice- make a windfall profit on this mistake in renter judgment?

I would also look at some ads, maybe even call on some ads and ask what the requirements are to see what others in this area are charging. 

I was hoping to get other owners to join me in protest but no one seems interested. 

In future we could also rent out the main house that we currently live in.

In my experience, you can purchase the existing home and the encroachment is grandfathered in, meaning the vacant lot owner can't force you to move it.

While condos might be all someone can afford to owner occupy or invest in enter at your own risk and if they are talking about future special assessments you will likely scare future buying prospects away. 

I think you really need to work with an agent based on what I am reading between the lines in your post.