These exact steps were not highlighted in another post.

Except as provided ….. and in§ 1.263(a)-1(f) (providing a de minimis safe harbor election), a taxpayer must capitalize amounts paid to acquire or produce a unit of real or personal property”See that highlighted exception, you can take de minimis safe harbor election.Work performed prior to placing the property in service.

Gambling profits will continue to get watered down but room occupancy and food bev numbers are great. 

I sold my offset printing business and a few years after the turn of the century, I took a job at night at my friend’s company to keep food  N the table while I built my real estate empire.

You guys have given me some good food for thought.  

@Joshua Harger and others on this post, just food for thought from someone who worked for a company averaging 100 purchases a year in the St.

Food for thought

If that's the case, are you also going to forbid fried foods?

It depends if you want a large lot, weather, close to transportation, in walking distance to food and transportation, or don't mind driving. 

I came away with a chunk of change, the respect of family and their potential business, and a couple extra grey hairs.The highlights of this experience?