A solid property management team (or maybe multiple PMs if your portfolio is large enough) is a must for out of state investing.

This is not specific tax advice.  

A good team on the ground should be able to help you avoid all of these potential pitfalls. 

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.

My biggest advice for people would be as follows.Know why your in the real estate game, and why a specific niche.

REI investing for almost 20 years, owning a wealth management company for 22 years, suffice it to say there has been a lot go data/spreadsheeting/tax analysis/meeting with my team go into this overall decision to sell the entire portfolio at once.  

I’ve noticed that there hasn’t been much recent discussion or activity specific to the Gainesville, FL market, so I wanted to start a conversation!

I would suggest you partner with an American in a specific market you like in the South or Northwest. 

However, you could look into a “construction exchange” where the funds are used to improve a new property acquired through the exchange, but it must meet specific IRS rules within the time frame. 

I'd estimate your cash flow after you pay the loan payment would be $600-$800, which a lender that understands investment real estate should give you some credit for on your DTI.As for a bank, I have a specific lender at NBI that I would recommend.