New Investor; Ideas for Monestizing on Land owned with House

[Hitanshu Shah]

Greetings Everyone!

I am a new investor from Rockland County, NY and recently joined the BP Community. 

There is a lot to learn and I am excited about Networking and collaborating with other Investors on BP! I have started attending BP MeetUps in the area. 

To start with, I would like to discuss the following topic

I have owned my primary residence since last 10 years. My plot size is 0.8 acres. Currently the house sits on part of the plot - 0.3 acres which is nicely landscaped and fenced. The other almost 0.5 acres is wooded and unused. I thought of building another house there for renting but my town laws allow only 1 House for 1 acre or less of land. Any ideas on how I may be able to monetize on this unused piece of land?

Thanks