In essence, they hand-hold you through on how to do two things:  First, find and tie up a select vacant commercial property, then Second get a prospective tenant who would agree to move into that subject property at a future date. 

Clarity here avoids future disputes.Business Strategy: Align on your goals—flipping vs. rentals, risk tolerance, and timelines.

(to protect my interest if seller is unreachable in the future)3.

I am going to save your list for future reference.

So even if they allow today, I think you put yourself at risk that they don't allow in the near futures. 

So a lot of investment, resources, and time, for a very little value add project when our resources are already constrained, that has nothing to do with taxes or accounting, and then in the future the attorneys will be doing the work whenever a new entity is set up or there is a change of ownership. 

Future gains on the investment portion may be deferred with another 1031 exchange, while gains on the primary residence may qualify for the $250k/$500k exclusion if residency requirements are met.This post does not create a CPA-Client relationship.

You may wish to think about it as an investment and you may plan for it to be an investment in the future, but until it is an investment it ISN'T an investment property. 3.

A nice home they might want to leave to any heirs tax free in the future.

Curious to hear any creative approaches that have worked in today's market.ARV and future value are speculative so when I am looking at property I am looking at it for longer term - does it fit within my strategy based on conservative estimates.