Still working on all the details but that is the plan. 

The project is expected to begin as early as August of 2018.[12] Proposed Student Housing Project on the NW Corner of Euclid and Speedway- Local developer Michael Goodman and national developer Peak Campus have proposed a 5 story development consisting of 163 units as well as 8,000 SqFt of commercial space for retail and restaurants.[13] New Project Could Bring One of the Tallest Buildings to Tucson’s Downtown Skyline- Although details are still fairly unknown, it appears a new development at the parking lot located on East Broadway between Sixth and Scott Avenues will bring a 300-foot towner with office/retail space, parking and residences.[14]New Mid-Rise Apartment Coming to Downtown Tucson- Located next to One South Church this new six-story project will consist of ground floor commercial space for retail/restaurants as well as 100 upscale one and two bedroom apartments.

Any details of how to close this out is much appreciated!

@John Leavelle I reached out and asked for more details on expenses.

Talk to a local lender that'll go over all the details with you.

I cannot speak to the rates since my locale has higher labor rates, however you should get a detailed cost break down from the contractor.

I know BP is a great place to look but have only found articles and threads that talk about the strategy of quick cash buying and not the nitty gritty details of everything that goes into it.

@Christian Nachtrieb Shoot me a message if you're interested and we can work out more of the details. 

The cabinets won't fit your kitchen, but usually they're just sitting loose on the floor, so you can look at the details a little and see how a real official cabinetmaker or finish carpenter did it 40 years ago

https://www.irs.gov/pub/irs-pdf/p527.pdfThere is not any category for "personal property," check the GDS Property Classes for more details.