It was a pain in the arse to run to Ikea and figure out how to piece together New Laminate wood flooring - $.089/square foot.$300Used 24” oven and apartment size fridge.$900Microwave, Sink, faucet, sink hardware $600Quartz Countertop (one 10 foot slab)$300Electrical Materials: wire, receptacles, lights, etc..$400Baseboard (had it left over from another job so $0, but would have cost around $100)New interior door, wood studs, drywall, mud  $300Paint $100Dump Fees $500Misc stuff I’m probably forgetting $500TOTAL COST $12,500Rehab cost per square foot = $25

However, you can choose to do a Cost Segregation Study and instead of depreciating the property as a whole you depreciate each piece of the property some of which have a shorter lifespan and that allows you LARGER deductions sooner!

But, if a cost-seg study is done on the old property, you can manage Sec. 1245 recapture tax by doing a study on the new property to confirm it has as much or more Sec. 1245 property.You cannot swap a fully depreciated gas station for a raw piece of land and avoid recapture - you must replace all the 1245 and 1250 property.3) OZ - Sure you can defer your capital gains for a few years into an OZ fund, but the magic of OZ investments is the ability to achieve tax-exempt growth after a 10-year holding period.

@Jacob Sherman We have a partner that is going to sign on off the loan docs in exchange for a piece of the fees or a piece of the GP ups, still negotiating.

Seems worth it though, so I'm not running around trying to piece things together an build my own empire of employee and agents, etc.

Would they take a piece of bare land and appraise it had a $100 million hotel built on it because that would be the highest and best use of the property?

If the landlord was aware of his past, yet rented to him anyway - any lawyer worth their salt would make a nexus between those two pieces of information and create a liability claim.In addition to the extreme negative press you would get, it also takes time, money and energy to defend a lawsuit you will eventually win.

So back to the drawing board....and yes, the financial piece has to make sense... 

Hello everyone, I inherited a piece of property in Berkeley CA from my grandmother a few years back.

When these scripted, fake, programs don't tell the true story of how the projects go, everyone and their brother want to jump in and make some of the millions, getting their piece of the glory that is television life.