The state tax is based on the amount of gain from the sale over and above your basis less expenses, etc.

Assume for a minute that you evict them and the person is found not guilty, the charges are dropped, or they are exonerated, then what was your basis for eviction?

No, there is a huge step up in basis from 1991 when it was worth about 2-3K an acre...  

My primary focus in terms of locations is the Central Texas area (Killeen, Copperas Cove, Harker Heights, Belton and Temple Tx)- however I'm also interested in McAllen Tx and GRV .I hope to learn from other members, share my journey (and lessons learnt) and  provide constructive contribution to this group.I'm certainly looking forward to connecting with other members who are out of state investors like me and have investments in the mentioned areas.Also - are there any NJ REI that meet up on a regular basis ? 

Doesn’t that make it impossible to get the full 15% step-up in basis enabled at 7 years?  

The renovations can be added to basis and they'll be depreciated once it's back in service. 

For example, investing $90K passively in an apartment syndication with an 8% preferred return will give you $7,200 per year on a completely passive basis, plus more at the exit of the investment when the property is sold.There are other types that can also yield a potentially higher return annually if you want to be more active in the investment, such as BRRRR rentals. 

I understand that these can't be added to the basis for depreciation until we rent the portion of the building we are improving.

I told them that while I would like to buy it, it would probably be a lot smarter to hold onto it for the rest of her life, that way the cost basis would raise up at that point and you'd pay no taxes. 

@Nathaniel Hovsepian, Just to clarify the numbers that I thew out on OKC are just for everyday MLS retail listings.