I've done that and have t had an issues in the past 

t=3243&highlight=Posted: Thu Jul 13, 2006 9:22 am Personally i would take a few BASIC steps, and one of them is NOT "just buying the land and hoping to get zoning and a LDP for I want"1.

Is that what you meant to say?

In one instance I was told that the seller was expecting 92 to 94% of UPB, which was in that scenario equivalent to a 85% LTV, and I thought this was too high for the amount of risk and unknown involved.I would love to be buying these around 50 to 60% LTV but don t know if that s realistic currently?

Do they have the necessary resources to stay on top of all the tax issues such as 1031 exchanges, 754 Step-Ups, etc.Feel free to send me a private message if you have any questions here.A couple articles you can read that will be helpful:https://www.biggerpockets.com/forums/51/topics/1206189-cost-...https://www.biggerpockets.com/forums/51/topics/1204912-how-t...

Even though we have good LL-T statutes in place in Florida, some judges play loose with them.

Condos were built by a lot of cheap scumbags who are long gone and people are going to be left holding the bag on these.This guy is pretty good at explaining it:  Yak Motley Florida Condos;t=4s

@Alex ThomsenThe standard NC contract (2-T) has two different deposit options.

Yes, depreciation is generally meant to defer taxes but that can have a LOT of value and here is why:1.

Do they have the necessary resources to stay on top of all the tax issues such as 1031 exchanges, 754 Step-Ups, etc.Feel free to send me a private message if you have any questions here.A couple articles you can read that will be helpful:https://www.biggerpockets.com/forums/51/topics/1206189-cost-...https://www.biggerpockets.com/forums/51/topics/1204912-how-t...