A few years ago I bought a family property outside the country which is not rented out it's just there which I plan to keep for ever because it dates back generations.

Also in addition to buying and holding, many investors generate income wholesaling and selling some properties on a lease option.

We have contracts for over here (in Australia) but they do vary slightly from State to State - possibly the same in the US, but your legal people should be able to advise on that.You can get access to US standard option contracts, again that may need to be modified to suit your deal, as part of the package available at my website.

The problem is getting generated intrest.

No matter how old the corp they will need to peak at your personal credit and you will need guarantor unless the corp generates $1 million or more/year.

Any vacancies generate a discount from the full price.

Do I even need to go into what happens the vast majority of times when the 2nd and 3rd generation receive money earned by the 1st generation?

My family has been in real estate for the past 3 generations and I found no way to escape when I got out of the service.

Your RE business generates more income than any other income source.As opposed to depreciation which spreads deductions over 27.5 years (residential only), you could do a cost segragation analysis on your property (cost is between 2k-3k) which always produces larger tax deduction benefits and partially avoids the depreciation recapture when you sell.

I advised them from the get go that no matter who does the rehab - when they do a pre-rehab walkthrough of the property with the property manager to have the property manager create a scope of work with them and to bring this scope of work to the rehabber after it was determined.