Raw Land - What would BP's do?

[John McCormack]

I come to my fellow BPer's for some knowledge about a property. Thanks much in advance to anyone taking the time to review this.

My wife and I have come into a property in NC that her parents have the deed on that is just sitting there and we're weighing our options. So as Josh usually says, let's jump right in. I know you guys like details so I'll try to provide as much as I can.

- parcel of land is .9 acres. mostly flat, few dense trees is back that can be cleared or left alone

- currently zoned for residential but we're inquiring if that can be changed

- closest town is less than 5miles away with population of approx. 16K in 2011

- located less than 2miles from small county owned joint civil/military airport. 77% general aviation, 23% military. average 60 flts per day

- adding water and sewer to property is approximately $2500.00

- median average income $35K, median house/condo value $115K, median gross rent 2009 $585

- 9.8% unemployment 2012, 2005-2009 Industries: (1st) Manufacturing: 16%, (2nd) Retail: 12%

So, what would you guys and gals do? lease some land, mobile home, SFR, storage units or just sit on it? Our idea might be a mobile home but wanted to hear from those with much much more experience than us! FYI, we were already told that we cannot put more than 1 mobile home on this plot due to size. Thanks again!

John