Imagine you bought a property for $2M.The land (excluding any structures) is valued at $400K.Since land is not depreciable in the eyes of the IRS, we subtract the land value from your purchase price to get your depreciable basis.Your depreciable basis is simply where a cost seg engineer starts from when allocating your eligible assets into either 5, 7, or 15 year property.In the scenario above, your starting basis would be $1.6M since your basis = your purchase price - the land value.Having an accurate land value is essential to getting your depreciation/bonus depreciation calculations right.This is the starting point for any cost seg study that you do.

🏡 MASSIVE transformation coming near downtown…🏙️With one of the last areas to develop near downtown, the neighborhood just south of Empower Field will get a massive upgrade 🏟️The stadium district master plan is only 10% done, but will include a mixture of housing options, jobs, game day/special event experiences, and more.When this 58 acre space is developed, it will re-shape the landscape of downtown once again…

@Jonathan GreeneI’d second this :)

This is what BrightInvestor has for 2 Bedrooms in the area.  

I wouldn't let any concerns about this deter you from investing in Section 8 (or other) properties.

Hey Adrian, I do not see a-lot of this in Memphis TN.

This is something a qualified contractor can easily resolve.

The sellers agent said "Any encumbrance on the title at this point is the sellers business and will be handled buy us prior to closing.

Are there any insurance companies that people would recommend for this investment strategy that do operate in the Austin, TX area?

To me this is very market dependent and product dependent.. in our Market some developments that are red hot that Lennar owns they might only offer 5k on a 600k sale.