Building on top of land
Mother deeded over to me some land. There use to be a house there 10 years ago. Burned down and it was just an empty lot in the neighborhood for years. Parents bought it so they could have back yard privacy. They never put anything on it, never fenced it and Mom gave it to me this year. I'm out of state so I was thinking about putting a small house on it for less than $80k and rent it out. Areas is a C- or D+ neighborhood, average house is between $60-80k. Wanted to canvass the brains out there for your opinion on this move and borrow ideas on what should be my first 3 steps. Especially if experienced and if you've done it before.
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What do you think the highest & best use of it is? You haven't mentioned the lot size, but is it possible to put more than one dwelling on it, or SFH & ADU? Given your neighborhood ratings, I'm guessing it wouldn't be a great candidate for STR/MTR.
Worse case scenario, can it be re-zoned commercial or mixed use & you put some sort of self-storage on it?