I'm interested in purchasing a rural rental cabin situated on 1.5 acres of land that is zoned commercial. Land and cabin is included in the price and the town has approved a subdivision of the land into 5 plots. Theoretically this means I can eventually build 5 additional cabins on the land and rent them all out.
I'm concerned about owning commercial land versus residential land. I realize I can't live in a property zoned commercial, but what's stopping the town council from suddenly charging me taxes on the 5 subdivisions or forcing me to build additional cabins within 2-3 years, for example. What if they decide to pass a by-law that no longer allows cabin access off the main road and I'm forced to build a road at the back in the bush?
Does anyone have any experience with renting a single property (ie. cabin) on commercial land versus residential land? Any advice or suggestions would be appreciated. I live in Manitoba.