I paid tax on it and mowed it about every 5 years so maybe put 10k into over the years.. deductive reasoning suggested city does not build and full blown interchange to go to nowhere. 

@Apryl Skahill To get your risk-averse spouse on board with real estate investing, start by educating him with beginner-friendly resources that highlight the long-term stability, cash flow potential, and tax benefits of real estate, such as depreciation deductions and offsetting W-2 income.

Type Line Item Fee Fixed Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $600 Variable Fees Business Hour Service Calls $90/hour + Materials Cost + Tax After Hour Service Calls $120/hour + Materials Cost + Tax 3rd Party Coordination HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Negotiated Vendor Cost + 10% Oversight Fee  

This will also allow you to avoid taxes on the sale.

If your goal is financial security for your family, how do those things further or impede those goals? 

@Brett RiemensniderYou don't need to provide anything to your tenants tax-wise.

Typically, the adjustments I see on appraisals for basements are more flat rate adjustments. 10k is usually the number I've seen.What stinks is that there are a couple of model types that have below grade space where the builder, I'm sure, was trying to lower the taxes by having it below grade so the county wouldn't count that space in the assessment.

NJ has the highest taxes per capita in the country so high taxes are expected especially in Northern NJ.

Then there’s this glorious tax season where you realize how many things you get to deduct that others can’t, while sheltering your income with depreciation, and earning tax free income with appreciation.

Streamline your communication process to secure quality tenants.Focus on QualityThe condition of your property matters more now than ever.