What to do with 25 acres of land

[Donnie Baer]

My Grandmother owns 25 acres of land in which there is two ball fields, a 10 year old commercial, a log cabin, and a concession stand converted into an apartment. Currently there aren't any softball/baseball teams playing on the fields and the commercial building is vacant. She also owns an acre of land with two small trailers where she gets $700 lot rent combined a month. 

As of right now my grandmother is paying $5,000 a year in taxes and falling behind in paying them. Soon it will be $8,000 total by the end of this year. 

She has came to me and asked if I would help pay the taxes I would get the property in a will. I have been doing plenty of research on real estate and I think it would be a very good investment because I feel like there can be a lot more done with the real estate.

Is there any advice people could give me if this is a good investment if I pay $200-400 in taxes every month? I would convert the commercial building into a duplex and rent the log cabin out. So as long as the separate lots are filled that is 6 incomes coming in each month. Another question is what does everyone think I should do with the rest of the land? 

I appreciate any help!

[Colton Cook]

If you convert the commercial building, why not parcel the property into separate lots and build a few more small multi families, gate it, and then you have a subdivision. Maybe even leave the commercial building and convert it to retail space.

May be to large of a project but hey, fortune favors the bold.