Because that may sway who and how you interact also.Plus what kind of money are you bringing to the table to do this, are you broke and hoping (it's purely an academic exercise) or do you have some De-naro to put into a project(???)

Do you know if it is possible to structure a transaction in the same way you've outlined, but using a Delaware Statutory Trust DST instead of an LLC?

A co-worker told me of a house being auctioned on his street (a cul-de-sac). 

Anything $2500 or below can be deductible via de minimis safe harbor.Higher expenses need to be capitalized.You can also do a Cost Segragation Study to capitalize some items quicker based on life expectancy. 

@James De StefanoYes, add that to proximity to the mountains, 300 days off sun, great beer, restaurants, bars, arts, parks ...

You got some great advice from @Paul De Luca about adding an early termination clause.Plus I REALLY LOVE @Randall Alan approach of working with the tenant, not against them...at the end of the day, this good karma will come back around.  

@Paul De Luca thanks for tagging me in@Veronica Mitchell did you get this sorted yet?

I'm looking at doing the same in Delaware.

A large background in a subdivision located in a cul-de-sac.

& @Eric Gomez I can shine some light on the Catskills region, more specifically west of Woodstock in areas such Roxbury, Margaretville, Stamford, Jefferson etc (ie Delaware and Schoharie county.