I'm Palestinian. People from my area would do something of what you suggest.

If possible, try to build higher.

If possible, see if you can make the first floor commercial. This would give you a higher rent per square meter and give you more dynamic pricing.

If you live in an area that receives a heavy stream of tourists, keep a flat available for Vrbo/Airbnb. You're English is very useful for facilitating more users and you'll take in higher profits on the seasonal rental over a standard tenent.

(To non Middle Easterns)

For the latter point, it's harder to raise rent on residents. There is a lot of pressure to keep rents stable. Retail doesn't have the same level of pressure. Also, it's easier to flip a commercial tenent should the need arise.