They've figured it out over many years, what lists work well, which lists don't work, which neighborhoods work well and which don't, etc. 

You'd have to figure out what that property would go for without a house and see if you could get the land and and remove to house for less.     

I think you will need to speak with an attorney to see how much they will charge to take care of this and then figure out how much it will actually reduce your taxes by.

I figured it would be easier for each tenant to just transfer money to me individually instead of one person collecting it from the other tenants, but now i see the benefit of doing that instead.Once again, thanks for the input!

@Jeff Brower thanks, I figured that might be the case

I am trying to figure out a way that a partner can have 50% equity for the least amount of capital outlay from their self directed account to do so.

I can’t figure out how everyone reply’s to posts with the @whoever.

I've found several of these situations and feel there is equity there to be discounted, since they're not completely underwater relative to ARV, so I'm just trying to figure out an angle. 

IDC much about appreciation or have a set ROI.I figured out what i wanted by analyzing rental rates in area along with prices to figure out what is possible from jump and  started from there.

Can you or your partners deposit some personal cash at the bank, like six figures worth, and pledge that as collateral?