Make sure to check your remaining VA entitlement.

It may be worth considering as an alternative a slightly smaller city or suburb where property prices may be more affordable and rental demand remains stable.

So the situation I’m trying to paint is what should we think about doing with the remaining land?

Signed the papers, mailed in my money, and I was now the proud owner-to-be. . .but there were unexpected obstacles.The foreclosed owner remained in the property.

There is some owner occupied space but rent is paid out to the LLC. 6 years with 4 years remaining on current loan.

It may increase your vacancy when tenants discover they can no longer afford to heat their unit.I would add this:Since the TX power grid has proven unreliable and the providers can price gouge (how the justice department will challenge that remains to be seen), you could possibly ask premium rents by adding a generator / transfer switch to each building.

According to the prelim study, 78% remains in 39-year MACRS and the balance amounts to a $200K increase in our depreciation expense this year (catch up from foregone depreciation since 2011), which is an estimated tax savings this year of $65K.

@Ruchit Patel, if they are dead set on remaining in their current home then a reverse mortgage could be the answer because it allows them to get income from the equity in the home.

Also, if you never use all the benefit, whatever unused portion remaining is not subject to recapture when the property is sold in the future. 

For future, never close on a property and allow the individual to remain in the propertyI won’t close unless I do an inspection and house is in condition per the offer.