Lastly, land development requires solid planning and capital, so getting the right development loan with flexible terms will be vital for success.

Rentals generate passive income, so an S-Corp offers no added tax benefit.

So why would you pay what they paid then? 

@Anthony Sigala that "Rule" was created for mostly Class B properties BEFORE the Great RE Crash of 2008-2010.Values after the Crash dropped so much, that it could also be used for Class A rentals.Values are now more than their pre-crash highs, so the rule now only applies to Class B & C rentals.How are you identifying Class B & C submarkets in your area, so you can properly apply the rule to the right rentals?

Would love to know your experience in either so far. 

So if you're new and looking to jump into the space, then reach out.

.: So in 25 years people that buy now will be glad.

So they will rent without buying even though buying is available to them but they dont want to live where its affordable.

So I dont think I can say No here, or can I since we are married in a community property state?

I'd never touch that price. we underwrite 10% of after built value so in one of our markets in columbus that is 600k new build 40-60k on raw land