Quote from @Jared Haxton: Hi BP Community,I own a 2-bed/2-bath condo in Prescott, AZ (near Embry-Riddle Aeronautical University, hospitals, and medical facilities), and I’m exploring selling it via seller financing.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

I know I will need one for the actual storage facility. - but when it comes to purchasing the land, I am not sure what the best route would be.

Market OverviewEconomic Growth: Albuquerque's economy is a blend of military bases, nuclear research facilities, and universities.

My father just went into the long term care facility on December 23rd so the circumstances regarding the use of his house have definitely changed.

I'm presently a facilities engineer by trade, who does some construction and maintenance for landlords on the side, hoping to get back into the private real estate game.

I own one facility and it has been quite a challenge so far.

I think smaller markets say sub 50k population would have a larger impact from one big move from a manufacturing facility or something like a Amazon processing center.

Im bringing 400k myself the purchase price is 10 million its an assisted living facility  do you have experience running an assisted living facility?

If you have insights on creative ways to acquire rental properties or storage facility businesses with minimal capital, I’d love to hear from you.