Brandon,Here are a few thoughts if your still interested in the property.Is there any way to monetize the garage?

Sell the property to free up the line of credit/cashIn the case when none of the above are available we partner with a wholesaler we trust and let them monetize it.

Without getting into too much detail about all the different business platforms and methods of monetization utilized, the underlying factors are common in that there are multiple financial and institutional requirements that need to be fulfilled to be directly endorsed by Fannie Mae, Freddie Mac and Ginnie Mae. 

All-in-all, the simple fact is that you may not be able to monetize this opportunity yourself without having the resources to acquire, plan, renovate and manage this project.

Just calculate when paying for land the usable portion of it you can monetize today and in the future.You might be looking at something more like 32,000 all in.Call around to some trailer park owners to see where they get their trailers for and at what price.

Here are the numbers I posted when asking for advice:Asking price: $50,000Tax assessed value:$57,500Down payment: $10,000 (20%) -- seller paying all closing costsRehab: $1,000 (really just needs floors vacuumed/scrubbed and stove + fridge)Total initial investment: $11,000Projected rent: $775/moVacancy factor (10%): $77.50/moTotal Income: $697.50/moProperty Management (10%): $77.50/moMaintenance (10%): $77.50/moLegal: $25/moTaxes (capped at 2% of purchase price): $83.33/moInsurance: $45/moTotal Expenses: $308.33/moNet Operating Income: $389/mo --- $4,670/yr30-year Mortgage at 5.5%Debt Service: $227.12Net Cash Flow: $162/mo --- $1,944/yrCap Rate: 9%Cash-on-Cash Returns: 18%I ended up purchasing the property for $47,500 and paid closing costs.

I would, however, like to start and monetize a blog, which would be SEO traffic, once I quit and have some more time, since I have a somewhat interesting story.

The zoning is not residential and I need to find other ways to monetize it.

I don't expect we can do much with it....but typically....what are the options to monetize it?

I could get a license and try and monetize some leads that way.