I am ashamed that we have folks like that wearing the badge or holding the office. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Quote from @Account Closed: Honestly have no clue, but my guess would be contact a lawyer who specializes in real estate.I am also trying to get a hold of other wholesalers in my area and real estate agents.

@Roman Balmakov If you are planning on holding the property long term and have enough reserves to cover even worst case scenarios it could still be worth it. 

I had 2 or 3 called.Now again keep in mind I had zero interest in holding these as rentals and I ONLY bought homes that had significant equity for me.. mainly all pre foreclosures..

The issue is not the contract, the issue is going to be enforcing the contract, the individual who was selling this could hold this up for years and cost you tens of thousands in legal fees, and then they file bankruptcy and stall it another 5 years.

It's pretty easy to get suckered into a bad out of state deal because others want to make a quick buck, and you'll be left holding the bag. 

The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the 2025 bonus depreciation rate at 40%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.

If a landlord plans to hold the property for a while, we always recommend an annual lease, ending to align with the summer leading lesson, or staggered with their other leases depending on the situation.  

Investment Info:Single-family residence buy & hold investment.