Yea it seems to have the potential for some really solid returns, and seeing what's happened in the NYC areas (Williamsburg, Bushwick, Staten Island, Jersey City) for the past 10 years if it's done right it booms.But thanks for the advice, it definitely isn't a rule that artsifying a district is going to work. 

With a MTM, it gives me so much more flexibility in potentially giving a 30-Day Notice to adjust rents, add/subtract lease terms, and/or weed out problem tenants.

I'm on the southside and see a lot of potential in particular areas.

I am looking at a piece of land that has the potential to be turned into conservation land and sold as mitigation land credits to developers in the area. 

They just don’t want to feel locked in and you are putting unrealistic pressures on potential good tenants.

I have a property I might want to separate into 2 lots depending on the potential return. 

She mentioned that she has 6 potential applicants already.My question is... how do I go about doing this?  

AFTER ALL of the above, you have to consider if it makes sense throwing good money at a potentially bad outcome.

For now, just one but the potential for multiple properties at once is in the future plans.

However if you do 2 flips in an LLC, make $100k then go to a  CPA before year end....you still have an option to make that election and potentially save you some money on taxes.