I think it is great you obtained those lots at that excellent price and want to increase the value. 

When you go to sell, you're subject to tax on the amount of profit between your adjusted basis and sale price, not your purchase vs sale price.Recapture is not repaying the depreciation.

Purchase price: $75,000 Cash invested: $10,000 Sale price: $120,000 This is a 2 bedroom 1 bathroom single family detached house is South Georgia.

Is $3500 a fair price for the treatment?

You will need to justify the sale price of those assets to the new owner at their then current value on your books.It is a big hassle to do this, but it can make you a lot of money if you do it right and are careful in your record keeping.

And what is your price point and are you looking for turn-key properties or something along the lines of a "fixer upper"?

Look at rent-to-price ratios, job growth, and landlord-friendly laws.

What price range are you comfortable with?

Purchase price: $3,636,000 Cash invested: $700,000 This is a brand new 40 home build to rent manufactured housing community.

There's a lot more competition than previous years, and prices are high.