However, it's currently not generating any income, and my family is divided on what to do next.

On the plus side, lenders review that as well as they will look at the size of the congregation, giving strength, as well as other sources of income. 

To provide clarity about my situation, I am currently job transitioning and would greatly appreciate insight on building a portfolio with income limitations.

Most lenders will want to see at least 2 years of steady income, and income from part-time work or your own business can help to strengthen your financial background.

It’s a condo with short term rental income. 1 is the cottage we move into when we rent the house we live in for 2 months over the summer when the kids are out of school. 

Hey @Scott,I was wondering if you knew of any websites where we could find sample LOIs or PSAs online?

I started my STR last year in Sevierville and thought it would just be passive income as we had hired a pm. 

Keep yourself updated on real estate investment tactics, market shifts, legal obligations, and industry standards by connecting with fellow investors, participating in workshops, and utilizing online sources.

It's crucial to align this decision with the nature of your income sources and their respective tax treatments.

However, land pricing is based on many other factors such as zoning, location, the city its located in can make a big difference if there are certain factors that give developers incentives to build there such as transit, low income, walking distance to rail and other things.