Then take that cash and add that to the 1031 proceeds of the other one and use them together to buy a few properties - maybe one for cash and a couple with leverage and get yourself into a good defensive posture where you have a free and clear property with no market risk and leveraged properties you can blend returns on.The  sector I really like late in a market is student housing at residential state university towns. 

Hi everyone,
I need some advice. I recently closed one of the property deal. During my property deal process I had provided information that the monthly HOA amount will be $100 (mentioned by listing agent on brochu...

I assume it is a question of normal wear or incorrect use.Thanks again.Mike

The ones with a lot of votes seemed like good responses.This is another installment of holy war threads on BiggerPockets so I won't attempt to convince anyone that their perspective and unique circumstances are incorrect. 

Can anyone who wholesale in California please confirm if this correct or incorrect. 

The first responder here was very incorrect on one front. 

Is this incorrect?

When I am calculating basis for my clients and the assessor reports land value as $0, then I do not allocate any portion to land and it is 100% depreciable.Drew Maley is incorrect that the IRS will not take into account the assessor's records.  

And the title company/escrow company sent you the incorrect amount for the payoff?

You're 21, you're optimistic, you just finished college, you finished the pre-licensing education that taught you a bunch of factually incorrect garbage that you now need to spend years un-learning, you think you're the greatest thing since sliced bread, I get it.