Move to Texas and you can literally do this. There is no zoning. Go ahead and build those townhouses on your land. Your next door neighbors might build a strip

Move to Texas and you can literally do this. There is no zoning. Go ahead and build those townhouses on your land. Your next door neighbors might build a strip club or pesticide manufacturing plant, though. Even if you luck out with your current neighbors, the addional risk will lead to worse terms for you if you need investors to finance the project.