If the existing owner tore down to rebuild and the value went from $220k up to $500-700k there should be a corresponding jump upwards in the assessed value and property tax owed within a couple years of the rebuild.

I'm current corresponding  with a gentleman from  Bayshores  Advisors, Inc,  and it is also named www.BayshoreFunds.com for possible real estate deal.

Expensive cars and their corresponding car payment is the biggest reasons Americans stay poor or lower middle class

Other things you can use to demonstrate your intent would be your normal practice, rental agreements or rental listings, written correspondence with your professionals etc.You've got a pretty healthy gain to shelter for sure. 

Correspondingly, all business income taken from an LLC under similar circumstances is subject to self-employment taxes.

Greg,I think your alright , make sure that you have all your emails , Pictures and any other correspondence from all aspects of yourdaim and what has transpired.

Once the economic bookkeeping has been done, the allocation of tax results among the partners must be made in a manner that is consistent with the allocation of the corresponding economic results.For example, assume a partnership has two equal partners with identical economic capital accounts.

Hi @Melvin List,I had some email correspondence with Jeremy but have not written with him in a couple weeks.  

The number of units you own should correspond with how much cash flow you want.

Also, remember-- anything in writing can and will be use against you if it ever goes to court for whatever reason, so whenever I have correspondence with a tenant, I subconsciously think of a judge reading it!