Nine gravel spaces beside a rural feed store now pay the taxes on 40 acres I'm land banking

The license versus lease thing is the whole post and I wish more people heard it before signing.

On the management side, watch what happens when one of your nine stops paying. With nine monthly users and no gate, your only real enforcement is towing, and towing a feed store employee's truck in a small town has social costs that don't show up in the spreadsheet. How are you collecting, and have you had a late one yet?

Also $45 sounds low even for rural. Have you tested $60?

Basic question since I'm still on my first rental. What stops the feed store from just gravelling their own strip once they see it working?

@wren that's the question I had too. @parcel, if the answer is nothing, is $405 a month worth the $4,750 and the attorney relationship, or is the actual point just that you stopped bleeding on the tax bill?

I ask because I'm looking for income that doesn't turn into a job, and this looks close to that. Nine people, month to month, no gate, one sign. But if it evaporates the day a neighbor decides to compete, it's a different asset than it looks like.

Every unit teaches something and this one teaches that the cheapest improvement wins when your real plan is to remove it later.

I'd have paved. I'd have paved because I'd have been thinking about rate per space and pavement supports a higher rate. @parcel not paving is the decision I'd have gotten wrong, and the reason is that I'd have been optimizing the parking business instead of the land position.

@trellis on the collections point, in a town that small the social pressure probably runs the other way. Everybody knows who didn't pay.