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.

Hi All, any input on renovating a house and possible tax exemptions under an LLC?

People claim that 1031 investors over pay all the time just to avoid taxes.  

Tax structuring and LLC advice you can get for a paid fee too.

If not, ignore their claims!

Maybe that is why the old owner didn't pay their taxes?

And it can work really well for you as long as you pay attention to the statute requirements.In order to defer all tax you are selling investment real estate and buying investment real estate of at least the same value you sold. 

We did that for about 3 years until Jeff informed me he'd fallen behind on property taxes, and all of his lenders called the loans due.

Be skeptical of the developer's claims, as your property's value likely won't see substantial growth until the entire development is completed and sold, which could take several years.

The one who thinks that they are masters of the universe in EVERY area of life, has 30 different businesses, claims to be fit as a fiddle, with a life in perfect harmony, shows off huge toys, has 30 different businesses, including selling their time by the hour to provide coaching... this person is not running a real estate syndication business.