Treasury holds for its Treasury bills and securities or is derived from the U.S.

I’m obviously not referring to some reverse beta derivative closed end boutique fund.

Don't take it to be a PM derivative -much of it is up to you ! 

It’s looking to me that a lot of the success in real estate comes from capital appreciation, which in my opinion is luck derived from speculation (maybe I’m wrong?

That's okay, but may not be the best choice for someone that is set on deriving their income and wealth through real estate.I hope this helps?

I had a great conversation with @Kay Kay Singh today about the depreciation of gas stations, and thought I would share some relevant information regarding the tax laws for the general benefit of the BP community.Gas Stations (or 'retail motor fuels outlets' as they're called by the IRS) are depreciated over 15 years, and not 39 years like almost all other commercial properties.If any one of the following three criteria are met: It is not larger than 1,400 square feet. 50% or more of the gross revenues generated from the property are derived from petroleum sales. 50% or more of the floor space in the property is devoted to petroleum marketing sales.Here is the link to the IRS publication on this subject where the above words were take from.

The offer/Purchase price is derived by working backwards from the ARV.  

The second is derived from the calculator using the stated NOI ($38,121) dividend by the Purchase Cap Rate (rounded to 9%) which gives you a Cap Rate based value ($423,566.67).3.  

How is your income derived, W2, 1099, Self Employment?

@Annie DickersonSounds like you've derived your answer.