Costs like engineering and permitting can become disproportionately high for mid-size projects.Height and Density: Focus on areas where zoning allows for verticality and density.

Currently I am an Engineer, so I do make good money.

Imagine you bought a property for $2M.The land (excluding any structures) is valued at $400K.Since land is not depreciable in the eyes of the IRS, we subtract the land value from your purchase price to get your depreciable basis.Your depreciable basis is simply where a cost seg engineer starts from when allocating your eligible assets into either 5, 7, or 15 year property.In the scenario above, your starting basis would be $1.6M since your basis = your purchase price - the land value.Having an accurate land value is essential to getting your depreciation/bonus depreciation calculations right.This is the starting point for any cost seg study that you do.

Additionally, I collaborated with architects, engineers, and contractors to finalize the design and construction plans for a stackable duplex.

Additionally, I collaborated with architects, engineers, and contractors to finalize the design and construction plans for a stackable duplex.

I have moonlighted for several Architects and through hard work and good fortune stumbled on an opportunity to become an apprentice electrical engineer. 10 years later I am a senior engineer, together with my wife, have a decent portfolio of Real Estate.

(Inspectors are generalists, so specialists are essential for plumbing and electrical issues in older homes.)Structural Concerns: If potential structural damage is spotted, hire an engineer to assess it properly.Be Diligent and Proactive: Old homes often require extra due diligence.

Luckily, my brother is a software engineer so he put together a website where new tenants can simply click on "apply."

Ask the planning group to look at another subdivision plans and also ask the engineering firm for a similar set of plans to look through.  

I'm a full-time active real estate investor (former engineer) in Edmonton with 32 doors, and another 24 under contract.