This can provide a better depreciation benefit than traditional STR real estate.If permanently affixed to land, it qualifies for real estate depreciation (27.5 years for residential properties).Considerations:Zoning laws and campground restrictions may impact legality.Self-employment tax risk arises if you provide substantial guest services.Vacation home rules apply if personal use exceeds 14 days or 10% of rental days, limiting deductions.Audit risk is high, so keep detailed records of participation, expenses, and rental operations.Given the potential tax benefits and complexities, consulting a real estate tax professional is advised to ensure compliance and maximize deductions.This post does not create a CPA-Client relationship.

In Collin County, consider properties with strong appreciation potential in areas like Plano or Frisco.

Say, I have a potential client that has asked me to value a 7 unit apartment building.

With my in-laws living in Augusta,  I visit the area a few times a year, and it definitely seems like there’s some potential in the market.  

Detroit offers solid cash flow potential, a relatively low barrier to entry, and the market fundamentals are improving with a growing population and significant investments in the city.Since you’re based in upstate NY, Detroit is also a quick and easy flight, making it easier to visit and get a feel for the market if you’re considering out-of-state investing.

I understand there's potential variation, but from observation, whats being observed?

The numbers definitely work if the rehab stays within $100K–$115K and the timeline is 6 months, but with a full gut reno, I want to be realistic about potential delays.

Nashville is a fantastic market with strong rental demand and long-term growth potential.

I saw the potential to cash flow when the opportunity presented itself I jumped on it.

Between carrying costs, having to potentially raise equity and/or utilizing debt during the pre-development period  had I settled plus associated time, I  probably would have spent a similar amount of money.