How feasible is that?

There is also a large 12x14 storage room that could be converted into a room too (or opened up for a kitchen).

We are implementing a similar strategy at 18 units and since have put a multi and a storage facility under contract with 3 more offers out.

Would it be a good idea to put in mobile homes (assuming that we could get approval from the township), put in storage spaces that could be rented out or to build additional rental/condo units? 

You can diversify within real estate itself, be it acting as a private lender, purchasing notes, investing in a fund, buying a storage facility, etc. 

I'm very familar with that intersection and looked up your specific lot and that price point or construction design isn't feasible. 1.

Storage shed on property for maintenance.

And tell them you will dispose of it afterwards;  you are not a storage company. 

There is a 38-unit self storage facility listed on MLS with average rent of $60/unit; Built in 1998; located in Porter, TX, which is in Montgomery County (north of Houston).

I personally do it in the self storage sector and own multiple properties 800-1000 miles away.