What would entail owning a city?

Scenic, SD is for sale for a paltry $800,000. Supposing I wanted to buy it, what would I be responsible for? Would I be the landlord of the 10 people that lived there? Would I be the mayor? Could I set up my own government? Could I level it and re-build? If someone owns it, could it be established as a for-profit entity? A non-profit entity? Could I levy taxes on the residents as a form of income?

There’s a link in your very own cite that discusses this.

How to buy a town: Have plenty of cash – and patience
Owning your own ZIP code can be a dream or a nightmare. One thing it will never be is easy.
By Karen Aho of MSN Real Estate

I’m sure Kim Basinger could give some pointers.

Didn’t Bruce Willis also buy a town? Ended in tears as I recall

:smack:
How would someone make a town that they bought (like the one in SD) viable, livable, marketable? How would you go about establishing a tax base?

But first, you must pass the test of ages.

You must correctly pronounce her surname.

First thing that comes to mind: Pastureland for sheep or cattle will help your city grow. Are there mountains nearby where you can get more hammers, or a nice river and floodplain where cottages can produce gold? How are its defensive bonuses?