On the financial side, work with a CPA who understands real estate to optimize your tax strategy, especially for deductions like depreciation and expense write-offs.

I think I might look into donating it just to get a tax write off as well as stop paying taxes for someone else's land.

@Mark HafnerI've been investing internationally for many years but it's very difficult to answer the kind of questions you ask without writing a dissertation so I'd encourage you to ask more precise questions in the forum.

Listing agent told him that he needed to put in writing that the lot markers he has in place are correct, but he hasn't done that.

Writing them down turns your ideas into tangible objectives you can work toward.

Coming to BP and writing what I wrote helps me gain more guidance. :)  If your tough love is your only advice you can offer, i appreciate your comment but I also need direction. 

One bit of advice where you can be ahead of the curve is to write down your screening criteria for possible tenants and commit to following it.

I am just curious if the bill is dead or is it coming back under a new write-up that will pass?

Second: writing off the full cost of a new car is badly overhyped.

One can write a lot on a piece of paper and tenants will sign it - and then promptly forget about all of it and misplace their copy.