I am remembering a lawyer friend advising her parents on land issues.

Hence the lot on which the house resided was taxed at a 45% discount based on actual value, while the tennis lot was taxed at about 4 times what it should have been by value. 

However, I received some feedback from one of my partners that the play here would be for an investor to subdivide or re plat the land for a multiple tenant situation.

Number one, do you have a comp from another land lease property.

So if you are in a 30% combined tax bracket you get an additional $3K due to write offs.If it is a rental, you can write off the business expenses and the depreciation on the non land valuation. 

I leveraged my owned land to build my personal home.

Anyone doing this?  Besides lists from the tax assessor, how are you finding your deals?  

You are not going to buy land and put in a mobile home and the lender in 6 months will consider it a single family home.

You want lower land cost with high rental demand unless you're a reno expert and flipper which not 1% of real investors are. 

I then did some wholesaling, land flipping, did some more buying and am now just doing lending to build up active income.