This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

The cost basis includes:Purchase Price: The amount you paid for the property.Renovation Costs: Add the cost of improvements and remodels that significantly enhance the property's value.Closing Costs: Certain closing costs related to acquiring the property (like title fees) can be added to the basis.You will then allocate the total cost basis between the land (which isn't depreciable) and the building (which is depreciable over 27.5 years for residential properties).If you're unsure about how to allocate between land and building, you can use the allocation percentage from your property tax records or get an appraisal.This post does not create a CPA-Client relationship.

- Jasper / Pat AboukhaledTurning investment visions into reality in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC

A worthwhile property management professional is an invaluable partner to a sponsorship team.Are you familiar with just residential, or residential and commercial?

This scarcity has driven residential land prices in desirable areas to $1M per acre or more.

I'm here to learn and enhance my skills for better real estate deals and flipping houses. 

Investment Info:Small multi-family (2-4 units) buy & hold investment in Central City. 10 acres residential Wooded What made you interested in investing in this type of deal?

California is not a great place to have residential real estate for the reasons you mentioned.2a)  Don't get freaked out about all the other things that *might* go wrong. 

I have experience as a commercial and residential real estate agent. and I'm working on acquiring a 28 unit mixed use building through owner financing, we just need some additional capital for the down payment. here's my advice for you and starting a portfolio.

Always up for a chat... whether it's over coffee or a quick call.Take care, Pat & JasperTurning investment visions into REALITY in Phoenix, AZ - Ranked #1 for residential real estate growth and opportunity by PwC