I do see lots of self storage and warehouses going up, so my default assumption would be that the old shopping malls do NOT trade for less than build cost, but it's possible that the marketplace is not perfectly efficient. 

Dig deep into tax strategy, tax efficiency, etc  Learn about estate planning. 

Quote from @Victor Yang:In addition, is it possible for me and my wife to gift 36k worth of equity per year of the house (under the annual exclusion limit) and therefore have none of the costs go towards the lifetime gift limit?

We know from last time this administration was in power that they actually do what they promise and campaign they will do.

Quote from @Nate Sanow: Yes I own two that are near 100 years old and I will tell you they are a pain in the you know what compared to all of my post WW2 properties especially post 1980… layouts are better in the last 50 years and energy efficiency is better and I can keep going… HOWEVER to reply to the other aspect of your question, I’ve found appreciation is better with older properties in areas of the path of progress.

Don't forget to change all your faucet aerators and shower heads to low flow it makes a huge difference as well as far as water usage and saving HOT water. 

That means if you’re not working with me, you’re probably not even hearing about these opportunities.3️⃣ E-Commerce and Supply Chains Are Driving DemandWe all know e-commerce is reshaping the game, and Rochester’s location gives it an edge.

In the next 5 years, we have 2 twin span international bridge projects, a new hospital, and the expansions of the university and college.

Census Bureau and Department of Housing and Urban Development just dropped their December report, and it’s big.

This approach is cost-efficient and eliminates the complexities of dual-state filings.