This means that you can do your first flip without having to pay taxes on it (unless your gain is incredibly large).If you decide to rent out a portion of the property while living there (house hack), talk to a CPA about how that will affect this strategy.Also, before you get too involved with any real estate strategy, talk to a CPA. 

@Corey Jacques@Robin Dassy is right in the math portion.

This can be used to fund a portion of your down payment which can lessen your cash out of pocket.There's tons of ways to secure properties, that's the fun of it!

However, more concerning to me is the portion of taxes reimbursed, they are super high and that might be a deterrent for them or some future tenet.The drugstore I mentioned is a Walgreens with 9 years left which is a plus, however the dollar store only has one year.

In addition to the stalls, he also has 5 apt rental units on the property, a large barn that he rents to a contractor to store heavy equipment, horse trails, and he leases out a portion of the farm area to a local farmer who grows vegetable for "farm to table" restaurants.

Or your building may have a "surprise" issue that costs you tens of thousands of dollars to fix (but hopefully one has healthy cash reserves to cover these issues when they pop up).Also, past performance itself is easier to see transparently with a rental property than with a publicly-traded company.Even as a CPA, sometimes when I read the financial statements and annual reports of publicly-traded companies, I'm left wondering what kind of tricks they're playing on the inside to make themselves look better than they really are.But with a property, the due diligence is a lot more straightforward.But of course all these advantages of property come at the cost of investing a significantly larger portion of your wealth into a single, illiquid asset than you would if you wanted to invest in a single, liquid stock.Anyway I rambled a bit there, but my personal philosophy is that both equities and real estate are incredible wealth-building tools, but similar to @Andrew Johnson I am much more "active" in real estate.

It's not viable for the majority of businesses to have a significant portion of their work force work from home, so I would disagree that the value of office buildings will decrease over time.

I've read a bit about how the FHA distinguishes between "excess land" and "surplus land"...I think this would fall into the "surplus" category since the land with carriage plans cannot be sold separately but I am unsure of the 203K portion and the fact the carriage house is not built yet.

In this particular case,  the development model allows for the sale of a portion of assets and will retain part ownership to participate in cash flow. 

Any concern that we are pricing ourself out of the market with a colossal cabin that only a small portion of renters would look at?