I thought If the 10-year holding period is satisfied, all appreciation in the QOF, including any depreciation recapture, is eligible for tax-free treatment.

The nature of the remodel would make it somewhat hard to inspect if it was done right without being removed.

Bakersfield is also massive with nothing naturally stopping outward sprawl.

CAP from my calculation is +10% so naturally I am going to scrutinize.

Being a natural cynic, it takes work to find the positive.  

Modern lumber is also a lot more prone to termite damage as it is softer and easier to consume whereas old lumber is extremely resinous and naturally termite resistant.

Most likely the state where the property is located is where lawsuits would be brought if they are something for personal injury like a trip and fall or something of that nature because the “cause of action” arose in that state.

Naturally, when worker housing was built it was built in the cheapest place that was close by, and back then that was always in the places that flooded.

@JayHinrichs, you are correct that there are above 8000 members in Subto and with that some sort of dilutive nature based on the sheer size and interactions.

When economic activity is explosive, there is a natural increase in demand for the currency required to facilitate it.