I suggest buying real estate inside of and outside of your IRA or better yet qualify for a Solo 401k then you don't have to worry about UBIT on leveraged real estate. 

Land Contract.

For llc, land trusts, or living trusts?

For your 1st time, pay a Property/Land/Transaction Attorney to review the title commitment with you to make sure that there are only the outstanding liens on the property, and that the owner has title.- Collect Tax Certificate to verify Property Taxes are Paid- Get a current statement from the seller to verify the existing balance, if they are delinquent, you can get the bank on the phone to verify the amount to make the loan current.- Review the loan documents, there is most likely a due on sale clause, which is why you won't find a title company to process these for you.

The "land basis" cannot be depreciated, so your depreciable portion will be lower than $350k.We typically consider $1 million in building basis as a rule of thumb where it makes sense to evaluate the potential benefits.

Quote from @Kyle Carter: The comps that come from local real estate agents will be the best for this one.

The issue is our land value is high, so the structure value is low compared to the overall property cost. 

there was a new freeway interchange and a new home depot the land was one block behind it.

@Ashley Wilson you do not need to explain or defend yourself.Over the years, I’ve contributed countless pages of valuable content here on BiggerPockets, breaking down in excruciating detail why over 90% of investors struggle to land deals (hint: it’s all about marketing).

I bought vacant land, built a spec home and sold it to an end user.