I'll leverage accelerated depreciation for the tax benefit in the near-term. 

It is essentially the last town before the pass.Regarding what @Lisa Marie said, there are is a ton of good info in there but for your needs, you need to increase the cost to clean.

Condo: Condos may offer maintenance benefits, while homes provide more control.Size and Layout: Ensure the property accommodates your child’s needs and potential roommates.HOA Fees and Rules: If considering a condo, check for restrictions that may impact student living.4.

I am essentially in the property for nothing besides closing costs as the land appraised at $45k.

I'd essentially have 2 units out of the garage.

Then I p;an to move out and find another project.I am excited to join the forums and learn from the vast wealth of knowledge on here, as well as (hopefully) benefit the community with some of my own learnings.Look forward to the journey.Franklin

However, I have offered two thingsA)  Higher deposit -  this way the owner's fears are alleviated somewhatB)  Property management - offer the owner that you will essentially property manage the property for them.     

There's other items such as this where it may be helpful to talk to a CPA/EA for a little tax planning, especially since you'll likely get caught up in the passive activity loss limitations if taking bonus on a single rental property as I often see.It's also useful to mention that even if you do the cost seg study (I'm assuming you're doing one to be talking about this), you'll still benefit from accelerated depreciation in the form of shorter useful lives on the assets where you received bonus from.

Understanding the preferences of the Hamptons luxury market is essential.

I'm very new to investing and weighing which options would benefit me the most.Option 1:  Use the cash as down payment on another primary residence and rent out the current.