My tax professional is stating that I would need an appraisal to show the lot/structure are valued at $400k if I try to claim $200k as a donation.

.: Stessa isn't good for keeping track of tax deduction items.Stessa was designed to just look at P&L.

Which increases paperwork & costs for little benefit - if any.4) You'll need an entity in the US.You need to discuss all this with a qualified tax professional or attorney.- For our clients, we provide consultations with a tax attorney that handles over 300 foreigners legal & tax needs.

If you provide any kind of substantial services like catering, car service, etc you will change you tax situation and no longer can file under Schedule E.

If I can park the 388k ($415-27k) for one year at CD rate of 4.5% and then est 300k (after paying cap gain/depr recap) at 3.0% (assume CD rates lower) that interest income of about 24 months net of ordinary income tax is about the same as my current mortgage.Trying to play devil's advocate and think why selling this year does not make sense. 

Is your DSCR ratio greater than 1-meaning are you cash flowing (according to the lender's criteria of mortgage, property taxes and insurance (and HOA) if applicable).

There are also some tax advantages to self-managing. 

@David R Pustelnik recommend you first focus on raising the rent for the first time in 10 years.By the way, how much have your property taxes and home insurance gone up since this tenant moved in?

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 my target would be low income residents, are there any grants, tax credits, or funds available to help me with the conversion?