Explore trend following (just google it, you’ll get the basics).

Out where you are, there's also tons of secondary markets to explore as well that don't require plane tickets, just longer drives.

Then, you will have to research different investing methods within the type of real estate investing you chose.Some generic book recommendations, are "Think and Grow Rich", "The Richest Man in Babylon", "10X Rule".

I'd like to explore the use of options in a series of blog & discussion posts and would appreciate connecting with anyone that has had experience with real estate purchase options (note: these are not lease-purchase options for renters).Thanks!

The exact allocation depends on the method applied, and there are many methods to choose from.

@Jon DorseyI agree with your CPA and @Aman S. that you can't establish your basis in the investment to be more than what you paid.A portion of the basis will be allocated to Land/building/Improvements/etcThe IRS/Courts have established various methods to come up with the depreciable basis for building.

I'd explore it a little more fully. 

In 2016, I was able to acquire a property using the Subject-to method with the help of a friend.

Decide if you are wanting to pursue fix and flips, or buy and holds usin the BRRR method first.  

@Scott Smith congratulations on your gain as i am exploring option 4 below as well .