If you have any tips, resources, or advice for someone just starting out, I’d greatly appreciate your insights.Some specific things I’m working on right now:Building a strong buyers list.Identifying motivated sellers and honing my outreach.Learning the ins and outs of structuring win-win deals.I’m open to partnering, collaborating, or just grabbing coffee to exchange ideas.

I drive through there to our lakehouse and there are a few of these structures used for homes in the area.

If the structure on the property is determined to have no value, be careful when you consider paying the “value of the land”.The value of raw land is different than the value of land with an existing structure, even if the structure has no value.  

Hi @Steven CatudalThere are a few different ways you can structure your partnership.

I was always hesitant about the upselling into various structures and services that are available for far less expense (e.g.

Trying to make this as structured and organized as possible.Thank you.

Property comes with amenities such as swimming pool, outdoor grills, playground structure and each unit has washer/dryer connections.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

The property next to me is a 1 acre lot, it has a Well, Septic and Power, but no structure.

Structurally, the property is in pretty good shape EXCEPT one problem that I cannot properly assess: the plumbing will not hold pressure.