@Christian Sifuentes You can do it yourself through the their website.https://www.state.nj.us/treasury/revenue/gettingregistered.shtmlYou will also need to get an EIN from the IRS.

Also the Treasury will take the position of substance over form.

Upon doing some digging of the town I found lakeport is a tourist destination with the lake, resorts and casinos projected flat economic growth over the coming years, a population that has decreased a hair but remained relatively flat, the crime rate index is well over national average and has increased over the past 10 years even with increased spending for public safety.

If you do not have time to do the basic research, you are playing roulette pure and simple (but not getting free drinks as you would in a casino)

More and more institutional capital is pouring into real estate as you mentioned and are they happy with returns equivalent to Bonds or Treasuries.

I have also thought about looking in CT at a beach front property that is near the Casinos to hopefully get more year round potential.

It is walkable to the stadium and new casino .9 miles.

Treasury Regulation §1.162-21

And you might be very surprised what the Treasury, Service, and tax courts have allowed as "unforeseen circumstances"...

Casinos, timber land, office buildings, retail, international airports...