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.

When you have studied your market properly you should be able to provide the answer of if single family or residential multifamily is better for cash flow. 1% rule was for a time when almost all deals were decent as a way to rule out the lessor deals and concentrate on the best deals.

.: And how would you enforce that ruling Brian?

But of coruse, getting private lenders isn't exactly easy.

"Getting in" is easy; making money, managing the business, with the increased financial risk of commercial properties is a whole different game. 

I had to live in the property due to the FHA occupancy rules, so I had about an hour and 15 minute commute to work every day.I settled on Tilton (small town in central NH) because the property was right and it cash flowed very well, and was quite cheap (at the time... 240k), I could get the loan to get into the building and own 4 units.

(At least not until 2025 or whenever they change the rules.)

They aren't particularly liquid and its easy to loose a lot of interest with a cash-in before maturity.

Seems like easy savings. 

Building a cabin in a tourist destination that does not have easy access to gas or electric.So I will need to run electric line anyway and considering installing underground propane tank, is it worth it?