My purchase is not contingent on financing, and I genuinely want to move forward with buying this property. 

How did you add value to the deal?

However, full site visits, though more expensive, maximize tax savings by capturing every depreciable asset and offer better audit protection.While online studies may be suitable for simpler properties, full site visits are ideal for complex or high-value properties.

Additionally:What is the current loan-to-value (LTV) ratio for rental properties?

These items depreciate in value over time.

The estimated value  now (roughly) is $200K. 

I would love to learn and add value where I can.

Bootstrap financing How did you add value to the deal?

However, there's an obvious loophole to the claim because if you buy a house for 999K and then the value goes over 1 million then technically you're one of the 90% that just became a millionaire through real estate :) REIT investing is a much less active way of investing into the 11 major real estate sub-sectors, in the US we have 274 listed REITs on the major exchanges of NYSE and NASDAQ, and about 75-80 of them are not equity REITs but rather mortgage REITs, which I like to park cash in when 10yr yields are trending down to give me capital appreciation plus 14-15% dividend yields. check out alreits | Global REIT Researchto do more thorough individual research.

•The county will reassess at market value, so be prepared for a higher property tax bill.