Yes, all very well if the market and capital calue is increasing while you spend the months subdividing and developing and building.
That may not be the case any more, and the third scenario you have not mentioned (apart from make money or break even) is lose some serious cash, and maybe lose whatever you have gained over the last 15 years. Why not consider another option, sell all the properties and retreat to cash for a while. You have made hay when the sun was shining. It may not be shining for a long time now.
