Therefore the property types that are the most favorable to generate bonus depreciation will be those with a high degree of what the tax code refers to as "land improvements".

As long as their is demand and other favorable factors in that city, if it's worth pursuing if numbers make sense. 

That said, we don't need to be next to family but being somewhat close by has advantages so those places are favored somewhat.The strategy is to buy, househack a value-add multifamily for 2 years then rinse and repeat until we can build up enough capital to either start developing, move to larger multifamily or the wife wants to start a senior care facility. 

I have seen a few recent deals where this has worked, and favorable terms on both sides have brought the deal to a close.It is good to reach out to the owner and see where his head is at.

If you can find financing on a vacant, gutted, 16-unit, it's not going to work in your favor.

If, and it is a big if, we can get this structured favorably, that would leave a 2BR with finished attic (list as 3?)

That creates a really nice price / rent ratio which is favorable for investors looking for cash flow.

I am however handy, I have a degree in biology and I do have a trade skill set in automotive mechanics, and I am always willing to return the favor for anyone pointing me in the right direction.

I'm jumping in at a time when interest rates are a lot less favorable than they were even 8 months ago.

Utilizing their favorable financing relationships to then secure a ~$1M loan from a local credit union.