To really know what you are doing will take years, but you learn along the way, trial and error.  

I am a rookie investor looking to purchase land in South Carolina.

This is such a rookie question but I have to ask it anyway.  

First, undercapitalization is the number one error new businesses make.

There are many posts here on biggerpockets about investors being concerned about the Chicago RLTO changes which state tenants can sue landlords for minor errors with the security deposit.

The lawyer's errors and omission insurance, will pay you.

Without the documents, I cannot tell if there was a recording error, if the second lien stayed in second position, or what exactly happened?

With that being said I am still a bit of a rookie investor myself but I'm happy to help other if and when I can.

There is no margin for error at that rate.

If you are reasonably confident your original filings are solid (beyond the depreciation error) then why not amend for something you were clearly entitled to, and in fact must claim since your tax basis in the property will be reduced whether you claim it or not.