The cost of the building I am confident will not be over 525k (including permits and the land will be at 125k.  

kind of why I like notes these days.. you buy a note you get income its definable and there are no extra costs to worry about you get paid off and do it again.. for me and my simple mind its better.. since I never spread sheet anything I just think about it in my mind..

If you don't have any vacancy. that is good and extra money in your pocket.

Catching up with unclaimed depreciation is considered a "change in accounting method" and, as such, you're NOT permitted to fix it by amending past returns.The correct procedure is to file Form 3115 with your next tax return and catch up with all missed depreciation at once.

We paid down an extra $18k to eliminate PMI a few years ago.The tenants have been there for 2 years and may be interested in buying.

That's not counting any renovations you want to do.....that's extra.

Maybe it's simpler and maybe not but most people will like the extra money back. 

I would think that it would be a TON of extra work trying to work around his stuff and redo all of the walls.

I am graduating December of this year (possibly in May depending on if the job will give me any incentive for taking an extra semester for learning big data). 

It was hard finding land, and permitting was lengthly, but it was a great market.