@Carlos Valencia @Albert BuiHi Matthew,so my objective to is continue on the path to financial freedom through acquiring property.

I agree with James actually, we are in Houston but we are seeing a lot of borrowers acquire rental properties in the Midwest.

If you invest $100k in real estate you can acquire a $400k property and if that appreciates 10% you make $40k!

What loans do property owners use to acquire land? 

You must generally file Form 3115, Application for Change in Accounting Method, to request a change in your method of accounting for depreciation.The following are examples of a change in method of accounting for depreciation.A change from an impermissible method of determining depreciation for depreciable property if the impermissible method was used in two or more consecutively filed tax returns.A change in the treatment of an asset from nondepreciable to depreciable or vice versa.A change in the depreciation method, period of recovery, or convention of a depreciable asset.A change from not claiming to claiming the special depreciation allowance if you did not make the election to not claim any special allowance.A change from claiming a 50% special depreciation allowance to claiming a 100% special depreciation allowance for qualified property acquired and placed in service by you after September 27, 2017 (if you did not make the election under section 168(k)(10) to claim a 50% special depreciation allowance).Changes in depreciation that are not a change in method of accounting (and may only be made on an amended return) include the following.An adjustment in the useful life of a depreciable asset for which depreciation is determined under section 167.A change in use of an asset in the hands of the same taxpayer.Making a late depreciation election or revoking a timely valid depreciation election (including the election not to deduct the special depreciation allowance).

Can we use both are business to acquire property, or do we need to create new business?

While appraised equity isn't cash, the fundamentals of real estate investment trump any particular method for acquiring properties.

If its only a 1 unit property then you'll most likely need to qualify for this purchase with your own personal income.Make sure you review all of your options (credit/income/assets) with a lender so you can determine this before you find deals that way you're not having FOMO looking at deals and not knowing how you can actually acquire them.

@Joseph MuleroTo build a successful real estate portfolio, consider house hacking and the BRRRR method, which recycles capital and acquires more properties.

However, I am not apposed to acquiring new cabinets if necessary, and if that is the case I will gladly check out your recommendation.