At a minimum, if you want to shelter W2 income you need to know the IRS rules regarding passive activity losses and the exceptions, and also about the largest tax sheltering deduction, which is cost segregation and bonus depreciation.

And with winters shorter and not as severe thats a bonus..

Here you go:Real Estate Purchase Agreementhttp://www.renegadewholesaler.com/bonuses/Purchase_and_Sale_buying.pdfAgreement to Assign Contract for Sale and Purchasehttp://www.renegadewholesaler.com/bonuses/Assignment_Agreement.pdfI just want to echo the sentiment that you should check with your Real Estate Attorney to make sure these are legal in your area.

I don't have a formula that I use and I'm much less concerned about cash flow than I am equity, although the potential added cash flow in your situation is a really nice bonus. 

Appreciation is a bonus IMHO.Not every place down that way is a STR.

I have funded quite a few Tax sale purchases on bare land in FLA and my clients I lent money to did well with them.. but they are spot lots. and they sold pretty quick on the open market not sure having habitat as a buyer is any bonus for U.

Scott’s “book on estimating rehab costs” and am having a hard time finding the bonus content.

Has there been any movement on reinstating 100% Bonus Deprecation for the 2023 tax year?

The cost of land generally includes the cost of clearing, grading, planting, and landscaping.Land preparation costs, such as landscaping are depreciable Certain improvements made directly to land or added to it (such as shrubbery, fences, roads, sidewalks, and bridges) are generally depreciated over 15 yearsKeep in mind that depreciable rental property costs with a useful life of 20 year or less may be eligible for bonus depreciation.I don’t think the sources that you found are accurate since some of the improvements you mentioned can be depreciated and over a shorter period of time.

A potential issue I will point out is that I’m pretty sure you need to put into service the property in the year you purchased it, at least for bonus depreciation.