I'm contemplating if this might be the way to go.

I have been contemplating on doing something like that or just jumping in and doing a flip.

I am contemplating putting an offer down for my first flip.

When contemplating all these ideas, you should look to how much capital you have to work with and what goals you have for that capital along with how actively involved in the loan as drivers to the decision.  

., and you have risk of theft, fire, etc.I'd rather approach a local vendor(s) w/ your contemplated purchase volumes, and negotiate volume-based rebates to get similar  net pricing w/o the downsides of buying up front.

I own a 1.4 acre piece of land in a small town, Fabens, near El Paso and I'm contemplating constructing an apt house on this land.

What I'm contemplating is that they will just remove the Mortgage Interest Deduction but may allow it to go into an "Unallowed Business Interest Loss" until you can actually use it.Account ClosedThe 15% tax bracket is for non-pass-through entities.For pass-through entities, this is the literature in the above link on page 16:"Millions of small and closely held businesses are organized as pass-through entities – such as partnerships and S corporations – that are taxed under the individual rate structure rather than at the corporate rate.

I've contemplated getting into the real estate industry for a while, just never got serious about it until now (yes, I'm one of those HGTV watchers lol but I do understand what they show doesn't show the true/full picture).Originally a Kansas boy, work has dragged me to the Houston area where I am looking at setting up shop as an REI until it can replace my income and become financially free (currently in engineering but love hands-on work).

Barring something unforeseen you don't have any profit to shelter so there isn't any need to contemplate a 1031 exchange or take advantage of sec 121.  

I'm contemplating on quitting my job here to jump with both feet in and become a full time real estate agent to start off my REI career.