If you're getting offers for your lot and another for way more than what you paid, you might be sitting on some serious profit potential, especially if the area's growing fast.

High volume, fast turnover.

At least here in Colorado, we have a few examples of cities -- Colorado Springs and Littleton, just outside of Denver -- that had active laws permitting non-owner-occupied STRs and then changed course and prohibited them, but in both cases, those cities grandfathered in existing permitted Airbnbs. 

VASP opens up March 1st 2024, days away. I warned creative people not to touch VA loans. You might be in a bind now that the VA may make them whole.

The mindset changes. 

The footprint and layout of the home will not change per the requirements of an Emergency Repair permit.

Often, this is done to adapt to market changes.

That would be my first step before making any changes.

It's important to understand how the credits will affect your specific tax situation and when you can claim them.Recapture Rules: There are recapture rules in place, which may require you to repay some or all of the credit if you dispose of the property or change its use within a certain number of years after the rehabilitation.Overall, historic tax credits can be a valuable tool for property developers and owners looking to preserve historic buildings and lower the overall cost of rehabilitation projects.

Location is the one thing you cannot change about a property, so finding one in an area that works for you and will help meet your goals is huge.