If you simply want to choose other investment or passive income approaches, then P2P lending, dividend stocks/mutual funds, carefully selected growth stocks, etc can provide that.  

Your lender will probably require it and even if they don't it's simply good policy for you to have it on any property that you own. 

Can you simply add additional plinths to give structural support or does all the flooring need to be ripped up to rebuild the sub-flooring?

Let's geek out a little and look at new development from the point of view of an economist.First of all, real estate is cyclical and typically, there is a period of expansion in inventory (period of new construction) after the recovery of a crash before you enter the "oversupply" phase and back into another recession. 

What contract should I use being this is simply lot and utilities?  

People shop for value, benefits, quality, simply a better deal, how do you show that you can deliver that?

By searching out mispriced assets - Assets (property) that is being sold for less than what it's worth.Let's take a look at how our Sokcho Investors apply Intelligent Investing rules to Property #2.Original Asking Price: KRW 150,000,000After Negotiations: KRW 100,000,000 + 10,000,000 for all the furnitureKey Money deposit from new tenant: KRW 100,000,000Out of Pocket Price for our investor: KRW 10,000,000For KRW 10,000,000 our investors were able to get a room full of very nice furniture (in fact, one regret they had was leaving the nice furniture in there and not replacing it with sturdier, furniture) and control of an apartment in this building:Here's an important point to consider: The negotiation down to KRW 110,000,000 wasn't simply an arbitrary number to 'buy low' - but it was based on understanding the market and knowing what the current key money rate for the apartment was.

@Lois Stern Simply let the other side know now, don't wait.  

I decided not to use deposit-only cards offered by my bank to ensure tenant or proxy enters bank branch and not just an ATM.Money shows up online.

I am sure you can simply google the subject and get read up on it.. seems like an odd topic for BP frankly