Just make sure to document how you arrived at the land value in case of IRS inquiries.If you’re unsure or want to avoid any red flags, consider consulting a tax professional to ensure you’re compliant and optimizing your depreciation. 

A consultation with a real estate-focused accountant can help determine if their ongoing services are worth the investment.

Hello All not new to bigger pockets or  the real estate business took a little break to build a solid foundation and to pursue my real estate license for Florida as well and to learn the in's and outs of the business....

Hi Austin,I would recommend you consult a Broker that specializes in buying and selling profitable businesses.From my understanding balance sheet is key in the due diligence process.

Since refinancing and investment income (like rental income) usually aren’t seen as earned income, it likely won’t affect your mom’s survivors' benefits.However, if your mom’s survivors' benefits are based on disability (SSDI), then additional financial or property assets could trigger a review, so you might want to consult a CPA or financial advisor to be sure there are no unintended consequences.This isn't legal advice.

If you’re not comfortable with your analysis and still want to pursue the purchase, I would recommend engaging the services of a real estate consultant holding the CRE designation and paying them for a short form report.   

I can live with that  In most states you need to be a licensed foreclosure consultant to do what you are proposing and comp for those services is limited to a certain amount.  

I had hired an out-of-state investment consultant and project manager who both turned out to be a complete disaster.

@Kelsey Vander Meulenhi. it's not an 'eviction' if you're simply giving a notice to vacate.i would consult a local expert - a property manager or an attorney.good luck

I had hired an out-of-state investment consultant and project manager who both turned out to be a complete disaster.