One I close on that house, I plan to go buy a good lot and get a decent builder to build the next one. 

Purchase price: $45,000 Cash invested: $45,000 Single family buy & holdHey @Malcolm Grundy!

Its the easiest way to buy up to 4 doors for only 3.5% down. 

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The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the 2025 bonus depreciation rate at 40%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.

Welcome to BP - this is a great platform to initiate your real estate journey.Dive into comprehensive guides, connect with experienced professionals, and explore a wealth of opportunities that can help you achieve your real estate goals. 

Reason is a Heloc generally carries a higher rate on a shorter term and "Can Never" be used as an "Asset, or for PITI reserves" which are both required when you buy an investment property. 

He claimed if he didn't get the money he could not buy supplies to complete the job, which would be done in a week(I knew this wasn't true). 

This means that you will probably need to pay registration and filing fees in at least 2 states if you don’t buy CA property as a CA resident.Be sure to tell your accountant that you may now need to file non-resident income tax returns in each state where you own property as well.

Some ideas I've considered:Equity Buyout: Having another investor or my partner buy out my 40% equity.Seller Financing: Selling my equity and offering seller financing to the buyer.Selling the Property: Liquidating the property entirely and splitting the proceeds.Does anyone have experience with situations like this?