Sometimes occupants still live there and eviction is not easy, and I have even heard a story once that the yakuza are involved in the construction and real estate business and exorted money from buyers through occupants in these properties. 

I’ve built a solid network of contractors, hard money lenders, conventional/DSCR lenders, and property management companies that serve as my trusted boots on the ground contacts in Memphis.

Dennis' dad and I actually tripped over something similar back in Chandler.. we learned to tap into city planning websites and even call the permit offices directly to get a real sense of their backlogs.

Based upon this fact pattern, do we qualify for Real Estate Professional status?

@Tony Schmucker if it were me, it would totally depned on a ton of differing factors that you may not be measuring (some outside of investment real estate). 

I knew this 4 years ago and decided to build my real estate portfolio to get enough know how to finally get involved.

We were collaborating with a local real estate agent who presented us with this MLS listing.

My name is Dima, I was in tech for a long time and got into real estate and business investing in late 2023. 

Hello -  My husband and I are experience real estate investors, with several LTR/MTR/STR located in Ohio and Geogial,    in 2022,  we purchased a seasonal boutique motel in Western New York.   

If you are a partial owner of this land, I would not invest much or any money into it.