It also has a 3b / 2ba ranch which needs $15K and 14 days to make a fully inhabitable home, but the play here is the land. 

I have had paper passive losses on all K-1s filed with no passive gains to offset(I’m a W-2 civilian defense contractor so I can’t offset active W-2 income in my situation since I am not a REP) and I have preserved those losses both on my federal return and the state returns I invest in.I intend to carry those passive losses forward until I exit on a deal and use those losses to offset part of the gain.

While the cash flow has been nice, doing the BRRRR with an inhabited property is far from ideal! 

I was told that I was supposed to return his deposit because the place was inhabitable but I refused to do that.

I doubt that the place is inhabitable and I’m sure she will not let me in, notice or not.

Are you going to inhabit the multi-family residence or cash out on your other property (primary resindence)?

Tough to do OOS right even for civilians.  

The seller dropped her price suddenly by $50K in frustration at the lack of interest in a property inhabited by her drug addict brothers.

For civilians it makes sense to just use agents, but once you are sort of in the game I find it is better have fewer fingers in the pie. 

Not sure how to go about financially wise buying a property as i'm transitioning from AD military to civilian world, and my wife staying in AD military.