Are structural problems apparent to home inspectors or do you need some experience mixed with a little bit of intuition to recognize foundation problems?

This was a gift that I did not recognize at the time...that the world does not owe you a living or entitlement just because I'm alive.Today, I believe I understand debt and financial literacy.

Setbacks could include verifying buildable space, and confirming city approval as the city currently does not have a public record since it is so old but recognizes it as legitamite and any future development must adhere to the city's "general plan" meaning the "Floor Area Ratio" and in my calculations there is about 57k sq. ft left to build a building on in the land, still leaving enough room for ample parking.

I recognize Texas is a hybrid state and the experience factor could be much different.

The current challenges are:- Remaining unit to rent as has loft that isn’t appealing to anyone in the area despite the fact that the price includes utilities (806 W 66thAve  Bradenton, FL - Zillow add)- PMs in the area haven’t had any success in renting the property either- Covering the mortgage so far, in addition to the repairs, has consumed most of the reserves- Property was bought via PML at a 12% interest that must pay for at least 3 yearsWe recognize that we could have done more research about the demand for these rental units prior to purchase and that can improve the rental add but are we making any other mistakes or missing on other opportunities with this property?

What you learn is how to recognize BS when you see it.

@Dave Olverson It depends on what you want.If you just want someone to prepare an individual Federal tax return for a few properties owned by just your tax unit (you and a legally recognized spouse), @Bryan L. is right- any CPA claiming tax expertise should be able to handle that.If you have a more sophisticated / complicated setup with partnerships or LLCs located out of state, it's a good idea to have a CPA / CPA firm that is familiar with the laws where each entity is regulated and taxed.If you are performing complicated deals or operating in a particularly tricky tax scenario (like a self directed retirement plan invested in an LLC you manage), then having a CPA / CPA firm familiar with real estate practices and applicable tax laws and regulations would be beneficial.If you are using real estate as investments that you wish to pass on as a legacy to your children (even if that will be in 50 or more years), a CPA familiar with estates and trusts may provide value to you so you can setup entities and ownership now and avoid big tax hits later when you've made a lot of money.Based on what I know of New York, Washington D.C., and California, I wouldn't recommend operating in those areas without a CPA/CPA firm with understanding of those state and local tax laws.There are economies of scale when it comes to these things, so my recommendation is to focus on a particular area for most of your investments to maximize the benefit of the legal and accounting advice you receive.

“Cleveland County is included as part of our service area in our 1993 Settlement Agreement approved by Congress which established our re-recognition as a federally recognized tribe.

The IRS does not recognize it unless you ask them to by making an election to be an S-corp or C-corp or partnership(if more than one member).A single member LLC may file as a sole proprietorship and pay both halves of Social Security(subject to income limit of 106,800) and both halves of Medicare totaling 12.4% in addition to paying regular income tax on the earnings.If you elect to be taxed as an S-corp, you may pay yourself a salary from this business, and take in the rest of the income as "ordinary income(not subject to FICA like Self employment income is)" which means it has no "preferences(capital gain treatment".Yes if you elect to file as an S-corp, you will have to file an 1120s before your personal 1040.

And it's a very interesting (and concerning, as you mentioned) question.There are likely some very sincere reasons for using POA to allow someone else to negotiate on a seller's behalf, and it does seem strange that the state wouldn't recognize that (seeming) legal right, even if it means that it can also be used as a loophole.Next time I talk to an attorney who is knowledgeable in this area, I'll ask this question...unfortunately, it seems even the attorneys don't quite agree on some grey areas of these negotiation rules.