I am actually looking at a house that is not a Victorian but needs part of the home bulldozed and a ton of work done.

Start-up expenses like the ones you mentioned can’t be fully deducted in the year they’re incurred.

BiggerPockets is full of resources designed to help you along your journey, whether you are just getting started or a seasoned investor.

The reason is the rent-to-price ratio is good so you can cash flow, and most of the West side doesn’t have a Point of sale inspection which is really annoying.

Quote from @Dave Hart: In the weeds on this one.

What made you interested in investing in this type of deal?

Although I won't have time for lunch or dinner on the 10th, I am available for coffee at The Athletic Club of Columbus or at my office on Parsons Avenue.

I'm from Grand Rapids.I use a 11"x18" graph paper and a daily morning workflow - combined with Google Calendar.

I think option one is better if you want build a lasting relationship with this agent.

@Jonathan Greene and @Mike Grudzien I agree but I was hoping to hear from some certified appraisers and if they would comp leased land versus owned land in an appraisal.Jonathan, you are guaranteed the land through the current lease period, but not guaranteed of a renewal.