The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the current bonus depreciation rate at 60%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.

Hey @Devin Bost, I would highly recommend a few things to help with this. 1) Have systems and processes lined out for any emergency you can think of.2) A spreadsheet of subcontractors/ vendors that could handle the situation that arises (plumbing leak, electric out somewhere, etc.)3) Your cleaning team and handy person should be utilized for some things.4) Something like Breezeway can give you 24/7 support around your property with a dedicated phone number line.

After a thorough review of systems, we had plumbers troubleshoot and repair/replace a couple of small chronic bathroom leak issues, and electricians installed a number of end-runs back to the panels so that rooms could each have window A/Cs running without tripping circuits and other such issue.

I would be reluctant if it were a gas station or other environmentally challenged property though). 

I had a client buy an REO property and there was a water leak.

We pay a percentage to our brokerages, have marketing and education expenses, and are self employed so we pay for our health insurance, gas, etc.  

Single boiler serving a duplex- landlord paid water / natural gas because there's no way to split it accurately. 

The first sign that a roof is failing is when it leaks.

I have a duplex near a Mini Mart gas station and people are constantly throwing their trash on my property.

But the city has risks too: historic tanneries, dry cleaners, gas stations, garages, workshops, any kind of industrial use - always be suspicious of what people did with chemicals back in the 50s and 60s when the general population had no awareness of the damage