Quote from @Louis Hamilton: The property is worth around 800,000 and has no mortgage on it.

No tax so far I think.2) If I convert that partnership interest into shares in a PUBLICLY traded UPREIT I trigger tax on the deemed sale/exchange of the partnership interest into stock of the REIT?

Consider getting a statement signed by all parties which states that everyone has agreed to terminate the current lease early on X date and all obligations by all parties have been paid in full and that the deposit will be kept by the landlord and will be applied to the new lease. 

It’s a strategy that allows investors to acquire rental properties with little to no money out of pocket while building equity along the way.If you're considering using the BRRRR method to grow your real estate portfolio, here's everything you need to know about how it works, its benefits, and potential risks.What is the BRRRR Strategy?

We sold a wonderful two unit STR in Depoe Bay in 2024, which generally is a no-go zone but has neighborhoods with specific commercial zoning that allows for vacation rental usages as well as a brand new development of luxury homes that allows STR usages similar to Olivia Beach in nearby Lincoln City. 

No.

There is no seasoning requirement involved since the property isn't a short sale and it isn't someone buying REO from a bank with a seasoning requirement.

Please see the rough numbers below :Tear down house price 350k,Construction cost 165 sqft * 2 build=627k too much for the land unless your exit is 3 million. don't reinvent the wheel. no single family home builder is paying 300k for land. that's miami florida prices where I live. we buy land 50k and under in Columbus Ohio. keep land at less than 10% of after built value.

those are large deposits  your doing very good for your owners with those compared to what i see in other markets  Wow. !!

we just managed to get ong to run all new lines and separate meters for our whole apartment complex at no cost to us.