Hello Friends, for about $400k if a person acted fast, for off market sale, could have 90,000 sf commercial building in fort Dodge ia. 

Contact them every month, preferably in person, and make small talk.

Should I invest these funds in a business without incurring capital gains taxes?

I have seen it in Arlington....one place super unusual, like almost two full houses on a lot that really should support only 1.I think your first step is to go in person to Planning and Zoning office...with your information and idea of what you want to do and see if they give you a warm or cold reception. 

For example, if your property is owned by an LLC meant to protect your personal assets that could become moot because you are purposefully and knowingly choosing to operate in an illegal manner.

You should be getting more personal, not less personal.

I also never signed rental agreements personally. 

These same owners also have no problem paying an attorney or CPA $150/hour or more.Many owners also don't respect their PMCs and try to treat them like a personal assistant at their beck & call.

Gap funding from a private lender could be an option and will be expensive.

While rental demand is going down, there continue to be more people purchasing properties for personal use in turn causing there to be an overall shortage of rental units available in season.