Hi everyone, maybe a rookie question here, but I had a W2 for a good portion of 2023 and also had a self-employed business for the other half.

Appraiser was unable to locate any permits online or in the normal course of business that could verify permitted use. ** Will need to verify with City Of Philadelphia that subject property is legally permissible to be used a as 2 unit multi-family home in order to proceed **"It appears that they are requiring the use-permit to be updated to two-family prior to close?

So my advice is to start getting out of your comfort zone, start reaching out to people on social media, go to local meetings and start making connections and creating relationships with people in the real estate business.

Banks are not in the business of "buying" properties in the traditional sense.

Looks like you've got a good spot with that 3/4 acre of land for business on a busy road!

@Leonard Rybak, it is a bit bizarre to hear that your broker is busy.

So the above, is directly in response to your question/strategy BUT, I would certainly consider NOT SELLING THE LOT NEXT DOOR... especially since you said you're seeking 'additional cash-flow' -- if you sell, it won't be recurring cash-flow instead it will be a one-time infusion of cash into your bank account and then its done AND you won't have much control on what happens next door aside from what restrictions you have placed in the deed... why not instead of selling consider... offering it as a 'ground lease' whereas, the person seeking the lot is allowed to build on the lot but then will pay you rent for the use of the land... this would be similar to some commercial agreements or even mobile homes where the tenant owns the structure but you own the land on which it sits on.. it's also quite similar to how McDonalds and some other franchise businesses operate it's how they are able to ensure that the properties being built are built and operated in accordance with their vision, if a tenant does not build it or operate it 'correctly' then the Landlord will have leverage in ensuring that it is rectfied... because after all you do still own the land and may terminate lease if the terms are violated. 

No one cares about your business to the same extent you do. 

I owned a small chain of successful automotive collision businesses ($4+ Million annually) and sold to a much larger chain in 2022.

For my business partner Don, his boys are in college and high school, different seasons.