Consulting with an international tax expert would help you understand the best way to maximize your depreciation and ensure compliance across borders.

Howerver, I have resrvations about how this will impact the community's living standards as the development will immediately border some neighborhoods and could bring unwanted environmental impacts and noise. 

There is no minimum term lease limit in Florida.However, as you have mentioned, some HOA may limit the number of turnover tenant per year (de facto limiting the minimum lease time), limit minimum lease time, or completely forbid lease and require the owner to be the occupant.

Do you know how to claim various safe harbors (de minimis, small taxpayer, etc).

@Noah Blair@Celia De WolffMessaged all three of you the GC contact information. 

Spreading smaller amounts across a lot of different investments also de-risks your overall portfolio. 

Additionally, it is currently on the only cul-de-sac zoned for single family housing only in that vicinity.

. :)If anything, it's a disincentive for an auditor to dive into such complexity.BTW, there should only be one de minimis election statement for the entire return.

@Stuart UdisYou forgot to have the Wyoming LLC owned by a Delaware holding company that has the asset then put into a land trust.Then seek 100% financing because you are broke from spending $10,000 setting up this corporate structure to protect the zero assets you have.

For some reason, I thought the former US steel site was near the Illinois / Indiana border, not downtown Chicago, but I must have been mistaken.Is the project going to be on the Chicago Riverwalk, as your picture indicates?