Has anyone else come across a similar situation and/or does anyone have a good PI in the triad region of North Carolina they'd recommend? 

Curious for other investor's opinions, and what others might do in this situation.

In our situation, would that seasoning period begin when we closed on the land in fall 2024?

I have decided the multi family is the best path forward for my current life situation. 

Form 3115 allows you to restore the fairness in this situation and "catch up" with the remaining $30k of depreciation that you failed to take in the years past.

I’m in a similar situation in Concord NC.

So many "investors" bury themselves in complex, expensive situations to protect themselves from some unknown threat to their non-existent business.Figure out if you have any shooting skills (or even enjoy the game) before spending money on $600 Nikes or an indoor basketball court. 

Your property is similar to mine in great Indianapolis suburb with good schools owned since 2013 - worth about $300,000 (possibly could get a little more if in a multiple offer situation), property tax $6249.

I can't house hack because of the family situation so I can't be approved for regular loans that require you to make the property your primary residence. 

For more affordable properties—those priced under $400,000—the timeline is even shorter, with many homes receiving offers within two weeks of being listed.This fast-moving market poses a particular challenge for first-time buyers who may not be as familiar with the urgency required in competitive bidding situations.