However, I imagine you'll spend some money on an attorney and I don't think you'll get much out of it, it sounds like the project is not in a place to liquidate and is in capital preservation mode at this point. 

I spend about 20-30 min a week for each home, the rest is completely automated to give you a bench mark. 

We're several million homes short as it is and we're not even keeping up with the new household formations so that number is getting worse and not better.Now when you talk permitting and government, you're talking something completely different. 

Hey @Christopher Crooks, the advice I would give you is to spend a ton of time here.

The main exception is if you qualify as a Real Estate Professional (REP) by spending at least 750 hours per year actively participating in real estate activities and meeting other IRS criteria.

In short, inflation is caused by policies and spending (not consumers or businesses).

@Mike FarrIf you are going to spend 100's of thousands of dollars on an investment property it's definitely worth spending a few hundred dollars to make sure the title isn't clouded and you get clear and marketable title at closing.

Regarding taxation, talk to your cpa on how insurance proceeds then the sale of a property after being damaged impacts your cost basis.So for me, spend the $ to demo the property and sell the land.

Or, would my money be better spent someplace down south or by a National Park that would have year round traffic.My goal is to have a place where my family can spend a couple of weeks during the Summer, pad my retirement a bit, and have a place to leave my kids.Thank you in advance for your input.

I view the soft expenses as things that WILL happen and so the money is accounted for when its received even though it isn't spend on a monthly basis much like how taxes and insurance are often escrowed. 5.