Thought about giving to management co. to handle , but 20% mark-up of  labor and materials will be a deal breaker and one month rent to pay for placing a tenant. 

They have some outdoor space also. 

Second would be does the W&D fit the space?

@Mark K.

I've owned it for a couple years, but I know the land is being drastically underused- I want to develop it.To start, I need to determine if the development will be a multifamily structure, retail, or more of a warehouse with office space. 

Make sure to pull up carpet to look for urine stains, check all baseboards for scratch marks, etc.

Check out Mark Kohler (cpa and Attorney) on LLC protection on you tube.Good Luck.

@Mark Hughes I have not figured out exact vacancy rate.

Comps in my area go for about the 300K mark. 

. :) Bobby, I find this post funny, you were just posting about how they suggested that you made 10+% ROI the past year and how could they say that, that they do not know their numbers and that it was actually 7+% ROI and got uppset about it. yet here you are making assumptions on what they make on the money you paid. why don't you ask a PM their costs, i think you would be surprised like Russell said. they do have to rent that office space that the Broker owns btw, Staff, Insurances' ( car,office, error & omission) , plus they have many other costs involved with the business.