The cost of an airplane is accounted for by depreciating it over its lifetime.

Until then, your state and local government will affect your property ten thousand times more than climate change, probably more. to add to this the Oregon coast is fairly remote and hard to get to unless you have your own airplane. 

You realize what you're asking is which is better, an airplane, or a cheese pizza?

I think not only me but everyone will experience poor quality for certain time, like the Boeing airplane.

There are IRC sections that pertain to asset basis, there is Pub guidance, there was even a recent court case related to rediness of an asset and an airplane with renovations where the tax court ruled on this. 

I know many in Oregon that got in and went bust.. my partner in my airplane lost about 500k on his grow venture. 

I'm not trying to rain on anybody's parade, but anyone who follows advice that is that general in nature and tries to do one of these, by advice from a post on a forum, is sure to find themselves discussing the deal with a nasty attorney on the other side of the transaction and in a very formal setting called a court room.I can not tell someone that you can climb into a piper airplane, put the key in the ignition and hit the gas and you will be flying.

Conversely, if things don't go your way...you run into mold or some other unexpected issue, the real estate market takes an unexpected negative turn, a terrorist runs airplanes into a NY skyscraper...things can go South quickly for you and your family.

Since I use it when I come down here to do work, and we have family visits here, it doesn't particularly bother me that it loses money as I just consider it a luxury like playing golf or flying airplanes.

I typically tell people acting as a GC is no different than walking into an airplane the first time and trying to fly it.