I would include servicing costs of the loan and licensing costs.

Here's the key components to calculate your tax liabilityAdjusted cost basis - Is the purchase price, plus capital improvements, minus depreciation.

Have you reached out to any social service organizations that might be able to provide tenants to your property?

You want to be able to demonstrate that your intent in purchasing, subdividing, and improving was to hold for investment use. 

Customer service is always great when they have something to sell, I am sure you know this. 

That does not require employment or job seasoning instead it uses the rents to qualify and you can take out up to 80% LTV cash.Use the cash to put down on the next 1-2 or more properties as long as the other properties are debt servicing themselves it opens up more opportuities to buy more future assets and increase your passice income.  

I wouldn't be opposed to having a little skin in the game (closing costs, inspections, etc) I would be living there paying market rent and doing the improvements myself.

Many municipalities allow appeals, and the savings can be substantial if successful.Pro Tip: Work with a tax advisor or attorney familiar with local property tax laws to improve your chances of winning an appeal.2.

Our average construction time is about 8 months after permit is issued and we are always improving.

If you believe you can carry this place, without a negative carry, make any necessary repairs and can make changes to improve the rents...