Not all states (or municipalities) recognize the IRS methods of accelerating depreciation, so it can turn into a paperwork drill.I have no idea how Section 731 ties in, though.

I need to post my half of the story to, as I think it may benefit others to hear how BP came into play to make this deal happen.Very special thanx to Josh for making it all possible, and to all you others like Bryan Hancock who recognize the power of networking.

Originally posted by David Newcomb:Just to clarify these would both be LLC's taxed as either an S or C corp.For IRS purposes an LLC is a non recognized entity so a LLC that elects to be treated as a corporation is treated the same as a corporation.Will is correct the major advantage of a C-corp is for businesses that really want to grow large.

Usually CFDs.It's recognizing what the problem is and knowing what strategy to use to solve the problem.

Some people might recognize it.

Whatever reason for the 50% vacancy, this is a distressed property and the price should reflect performance achieved, not performance AS IF you were able to pull off what the previous owner couldn't.Seems like selling a building as if value is intrinsic to the building (~$21K/unit), without recognizing it for the failing, distressed business that it is.Reminds me of those who claim rents less PITI equal cashflow (all the while losing their b*tts), or "rents could be raised," and price a property "as-if" it were true.

Arnt these the markets you want to be in with appreciation in mind.Adam - Good job on recognizing a slight fallacy in your thinking...the "grass is always greener" theory.

If he were to suffer financially some, then perhaps he would recognize your value, but then he might also be PO'd at you for letting him suffer monetarily ...

So local market is not a typical one.Obviously recognize that RE investing is more work than just placing an mutual fund order.

Having had a home proposed for condemnation, recognize it's not a fun feeling.