New to Fayetteville, NC area myself and learning the different zip code markets.

Buy hey, if it does, some great bargains in a year or two....https://finance.yahoo.com/news/real-estate-billionaire-barrack-says-230309693.html“To keep people employed, you have to support the employers,” he said Monday in the interview.

From the few Youtube videos i have watched, they compile a list of real estate, like absent owners, or foreclosures, or homes that have code violations.

Since I have taken the property out of service, does the above IRS guidance suggest that I reduce the basis of the property by the deprecation I have previously used and "from which (I) you (had) received a tax benefit".That's the only way this makes sense to me, but what does that have to do with our tax code?

But trying to finish it not up to code (fire block, insulation) is kinda unbelievable. 

Non traditional Financing- crowd funding, etc.see https://www.nerdwallet.com/blog/investing/real-estate-crowdfunding-worth/- JV Partners, Limited Partnerships, Privates Lenders (PLers are not JV Partners)- Learning SDIRAs (Self Directed IRAs), custodians, Prohibited Transactions, code 401 of the IRC and 4975 https://www.law.cornell.edu/uscode/text/26/4975- syndications - See @Joe Fairless and @Brian Burke----------------Preforeclosures you need to come in and offer all cash and buy the property 20% equity or more. 

you need to make it into a legal unit- egress windows, separate entry, meet minimum height, kitchen/bath with code requirements- be careful about taking the pirate approach.

Let me know if you want any insider info about the various zip codes and nice neighborhoods in Orlando.  

I had the house rewired and brought up to code.

My tenant renting a room on the first floor brought a in code inspector in my basement apt where I live with out my permission.