With that treatment, you may receive a step up in basis for one-half of the property when a spouse dies.

Thanks You've come to the right place to seek investment financing.

The losses could be used against other sources of passive income and that is it.If it is a standard self storage model, and thus treated as rental income, then in order to get anything other than passive treatment you would needs REPS status. 

Before I purchase an insurance policy I wanted to seek some guidance on the best way to proceed.I received 1 quote so far for a HO3 policy that has 600k+ of dwelling coverage, 70k of additional structure, 450k personal property, 200k loss of use, 500k liability, and a few extras like equipment breakdown, water backup, service line.

I'd do higher density infill and go as vertical as possible. close on the cash land and then entitle it and seek partners. that's how we structure every deal. without land you have nothing. without a balance sheet you have nothing. if you don't have those then find someone who can bring all of that and bring the boots on the ground and the experience. 

I'm new to real estate investing, and I'm seeking to learn and start investing for income generation and wealth building.

Call or seek other funding such as bank loan or preferred.  

I'd strongly recommend seeking out other purely passive accredited investors and focus on building real relationships.

This will be a first for me, so I came here to seek advice.   

I am a tenant, not a landlord. I am asking for the approach a landlord would want me to take in my situation. I hope this post is not against any forum rules.
I split my time between my home city and where I work ove...