We manage three large apartment complexes in two different submarkets in Indianapolis. 

Meaning, if you take the money only, you would have depreciation recapture from your cost basis up to the original purchase price of the building (not including the land cost because it wasn't depreciable), plus a capital gain up to the insurance proceeds.Hope this makes sense. 

I'm trying to figure out a way to utilize a large storage building at one of my MTR listings in Memphis.

My advice is focus now on building your branding, business and client base in real estate.

Not sure on the building size or whether it has a flat roof, but I paid over $80K to get a 10k sq ft flat roof done back in 2021, with quotes as hight as $120K.Hope this helps, good luck!

My plan was to purchase a lot and build a foundation, bring in a doublewide/manufactured house. have it placed on foundation and have a structural engineer reclassify it as fixed real estate. then, I would refinance. 

My biz partner and I 100% believe community and building authentic relationships in the real estate space is so important for growth.

There are a lot of ways to invest in RE and each requires building necessary skills.  

Seems like it'd be lower maintenance since it's a new build and in a nice area.

Your build backwards approach totally makes sense.