[Topic of a future post]Why?

In the near future, we’ll be visiting The Shoals area in northern Alabama, where we’re considering a potential move this spring.

When Columbus sailed, there cities were old and had long addressed housing issues generations before. 

One time I had a guest smoke and it went right up the ducts into my unit, it was awful.I'm conscious about how that could potentially affect guests who will be staying in the upper unit in the future.

The market between the 2 locations & resident class (Especially if you plan to self mange or find a PM company), Your future goals and the costs associated with moving and transferring to a new hospital. 

In New Hampshire, title laws are strict, so we couldn’t move forward without obtaining a signature from a living heir.The title company dug deep and eventually located a distant relative—a niece of the deceased owner, two generations removed.

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

., not available for rent) cannot be deducted as current expenses but must be capitalized, adding them to the property's basis for future depreciation once it's placed in service.

A real estate business can also potentially generate a SOLO IRA or something like that. 

Exit StrategyResale Planning: Research market trends for optimal selling timing.Long-Term Investment: Consider retaining the property as a rental post-graduation.Marketability: Choose a property with appeal to future students or young professionals.By following these steps, you can make a well-informed decision and ensure a successful investment that benefits both you and your student during their college years and beyond.Peter Derry PHD Properties