She lives here in New York, is a mother to three children, and her and her husband are concentrating on purchasing a new home for their family here.Ten years ago, our father encouraged her to buy this land but never pressed her to do something with it.

Augustine has a lot of different neighborhoods...beautiful beaches...Intracostal...high dollar golf communities...quaint historic area...older neighborhoods with concrete block homes with big lots being being brought back to mid century style...less desirable neighborhoods that may never be...you need to decide what niche you want to concentrate on...I think you tell which I like....but a lot of buyers and investors have discovered our beautiful slice of paradise and potential deals are difficult to come by...

The way you propose to do this (with great comments from @Daniel Chang as well) by switching over to the new rent, rentable square footage, and operating expense schedules while maintaining the tenants same initial bottom $$ line is a great strategy, will likely not illicit any objection, and set the very important foundation for your office investment to profit and grow in the future. 

And thanks for your vision and hard work in creating and maintaining a great educational REI site, along with the awesome podcasts! 

They specifically step aside in any disputes in this regard, and it is notoriously difficult to try to get information as the property owner (as they will generally strive to maintain client privacy). 

If so, as a courtesy I maintain a foreclosure auction calendar on my website for my investor clients, if you want to take a peek.

You can concentrate on starting your business and finding your main team members that do not need customization.  

Matt Lockwood here; a recent graduate of Cal Poly San Luis Obispo; majored in business administration with a concentration in entrepreneurship.

By limiting the amount of money the free market would let flow to a property owner, the government is in turn limiting how much money that property owner can then spend to maintain their property.  

In this way, you don't need to depend on just your W2 income to qualify for more mortgages.More mortgages are not necessarily riskier, as long as you maintain an equity cushion and positive cash flow (with margin) on each property.