He collected first/last/security payments prior to move in date and was never heard from again.

Seems like the few people I talked to that are selling land in Florida are trying to sell it above retail without understanding that most of their potential buyers are going to be builders. do Not buy land in FLA without doing full due diligence  on all aspects . there are environmental gotchas that you need to fully suss out prior to waiving due diligence

I’m also aware there could be tax advantages to running a rental business, which could help offset the shortfall.I’ve had experience with short-term rentals in the past, but I found them to be a headache.

Completely agree with the original post but an LLC is NOT a tax vehicle.

Most of them do not and can even hurt you - as your S-corp with rentals. yeah this was under the guidance of the tax professional i went to.

Two of the units have their own W/D. 4 others share a separate W/D so it isn't taxed very much.

I have experience buying at Trustee sales as well as stopping Trustee Sales and buying direct prior to the trustee sale scheduled date.The current deal I am working has two Heloc Deed of Trusts attached to the property.

Check with a great tax professional!

I know California is still famous for clawing back the taxes owed eventually on a 1031, I don’t know if they are the only state that does it.

If you need financial help, ask under the "Finance, Tax, and Legal" forum.