Yes, you can apply bonus depreciation to a converted property, with some caveats:- it will be based on your original purchase price, not today's value- bonus depreciation for 2024 is 60%, not 100%- most importantly, you may or may not benefit from cost segregation/bonus depreciationRead this: https://www.biggerpockets.com/forums/51/topics/1075919-five-... 

I absolutely would not recommend that you attempt to limit who you are renting to based on their level of education.

Is there loans that cover the land and construction cost at the same time that are interest only?

Based on the info provided, one can qualify for the proposed purchase or property.

I am primarily interested in multifamily but I am also open to other investments that make sense such as syndications, commercial, and vacant or unimproved land. 

Some people just want their questions answered & since what we leverage is built on any knowledge base we feed it, as well as every inbound conversation, its adaptive, besides it already sounding like a human rather than a robo-dialer.

I'd be interested in a fee based vs. percentage....Mike

@Carrie Herring The mobile home is very old, so you'd be looking at the land.

Now I am leaning towards buying land to build within the inner loop and sell.

 I’m based in Tampa and work with Graystone Investment Group—we have access to some properties that might fit what you’re looking for.