Things will get “complicated” if you try to buy more than 3 replacement properties.I don’t see a problem with her renting you a space in her commercial building as long as she charges you “fair market rent”  (then she could leave the property to you at her passing.)

@Gary StarkReal estate tax return preparation is very complicated.

I have been browsing the site for the last few hours and checking out some of the forums.

If you are looking to do a complicated structure, ex. wyoming holding company.

Phoenix NY is only 10-15 minutes northwest of the Micron site, and is a small and relatively unknown village.

Picture a developer that purchases a piece of land and has sites to build on (or build model homes).

This is very complicated.

I have been finding out the high costs of conversion if the site isn't ideal for it.

Without using a data site, this will give you a free and easy idea.But, why are you thinking STR and do you know what it takes to be successful with STR now?

You'd need to start working through a preliminary site-plan to validate your assumptions about the building area, parking ratio, drive-thrus etc.