Help. Stuck into a corner.

My first blog and it feels like I'm reaching my hand up out of a ditch asking for help.

I live in a rural tourist trap destination with wages below the state average and housing costs above the state average. I need to stay here to care for aging parents who retired here. I feel like I'm only working to pay debt off. What advice can you give me?

My situation:

I'm 39, work full time, and no retirement savings. I live in the city limits of Asheville, NC. I have a 10 yr old rental house that has an annual net cash loss of $350, until May 2020 when one mortgage ends and then more than half the rent income will be positive net income. It was appraised for $135k in 2012, mort balance is $83k.  It has never been empty since I converted it from my primary home to a rental in 2011.  In 2011 I bought a fixer upper SFH on a large tract of land which is zoned for 6 units for $109K and was appraised for $134K in 2012. It's mortgaged at 15 years at 2.8%, $95k balance.   I love the location of the fixer upper however, I have no extra cash to fix it up. In fact, the value is in the acre of land with the house. It will break my heart to see the land, trees, outbuildings of yesteryear bulldozed and duplexes built on it, but this is my long term goal.  I just don't know how to go about doing it. I estimate 2 duplexes and one new SFH can fit nicely on the lot. I see these type of in-fill homes popping up all over the area. I need help figuring out if I can actually do this or should I move back to the 10yr rental house and give up this dream.