Planning to buy another primary in a year or so!

At the moment, have plenty of financial glide path, so don't need the equity of the current Investment prop, but had planned to owner finance (extra monthly income flow @7%, fluff... more income not required to eat, clothe, house. ).1) Cursory look indicates 30% max AGI can be deducted if deferred to Charity.

Trust me, I've toyed with the idea.Vacant land where it makes sense to build large MFH stock might make sense, but chances are this isn't the land we're talking about here.The reality is most vacant land in Detroit is being repurposed for parks, the Joe Luis Greenway, solar farms, neighborhood gardens, etc.Beyond that, let's say you plan to hold long enough for SFH prices to get high enough where it does make sense to build. 

We thought it would do between $300 & $400 per month, so that didn’t go exactly as planned as we needed to drop the rental amount over time.

Start a self-directed 401k retirement plan and max it out if you can.

And why do they care if they have to pay taxes since it is an S corp, if they don't plan to sell it? 

Start with calling the planning dept at the city to define the zoning and allowed density 2.

Granted, change is inevitable, so I'm always planning ahead for likely changes to come.Good luck, Seth.

- How many personal use days (sometimes including family or other discounted renters) do you plan to have? 

Cheers,Devaughn Welcome to BP - sounds like you have a great plan and story!