I understand how it would sound OK  .. 

Off market KMart was the first one, empty for a decade, purchase price $1.5 million, replacement cost just for the brick and mortar shell was $6.5 million.

Peter,That does not sound accurate based on having a Schedule E and being able to take those deductions as well as other standards.As an investor it’s not a bad thing to show more gross income which usually allows you to buy more properties with more income and a lower DTI.

I know this sounds like a dating profile but I'd really love to find some people to just hang out with and talk/learn as we enjoy company.

Hey Dallas, I am a lender, and it sounds like you are looking for off-market distressed properties to BRRRR.

But I intend to give the past tenant a break by finding a replacement tenant very soon. 

Having a long-term lease at mid-term rates and not having to worry about keeping it booked, cleaned, or maintained sounds good. 

I have been reading a lot of Robert Kiyosaki books and this seems to be his business model and sounds like I could keep my taxes lower by doing so.

Hey @Chris Kersey a good problem to have by the sounds of it! 

In addition to the original profit plus the added profit from your replacement property.Good news is that the 1031 can keep avoiding taxes even through death.