I agree with @Aaron Zimmerman—setting up your chart of accounts to align with Schedule E/1040 or 1065, depending on your type of entity, will again take some of the heavy lifting come tax time.

I have been trying to make sure I catch up on all the old threads and look like I missed this one.

Long story short, ended up buying the property after getting to know the owners who were cleaning up when I went over to ask them permission to cut down the leaning branches toward their roof.

You might also explore a Wrap-Up Insurance policy that covers all parties involved in the project.

The only solution I can come up with is to get a hard money lender, since they're typically able to close a lot sooner.Does anyone know of a Hard Money Lender that is willing to lend to raw agriculture land in Hawaii? 

I have made up my mind that I want to be in the real estate game. 

It popped up on my Fidelity page today so I thought I would share it with the group.

How much is the rehab going to cost, what's the ARV going to be, and how much will the property rent for?

Additionally, cost segregation and bonus depreciation can accelerate tax benefits.Because filing as single taxpayers limits certain deductions, planning in advance ensures you maximize benefits while avoiding complications.

You won't find a deal where you live for free, but if you can live in a great neighborhood at a reduced cost of living that is a nearly risk free way to get started in real estate.