What to do with my South Tampa Home
I have a SFR rental home in South Tampa (Florida) that I'm trying to decide what to do with. It's a 3/2 ranch that sits on 1/3 acre that could be divided into 2 separate lots and was thinking, at one point, to tear down the home and build 2 spec homes that would retail for approximately $450k each. The existing home sits smack dab in the middle of the lot, so it would definitely need to be leveled to build 2 spec homes. I've never taken on a project like this, so there is a lot I don't know about that process.
A 2nd option would be to sell it retail and could possibly sell it for $320k.
The 3rd option is to keep renting it, since it's been rented for the last 8 years.
Feel free to ask any questions and thanks for any feedback, suggesstions, ideas, etc...