And I don’t know if the price of homes, the crowds, traffic and development are worth it or if it’s even a place i want to stay/raise kids.

Maybe rent a house with other young professionals and save up lots of $$$ for a few years.As for developing areas like Mosaic,I see the new Silver line areas having a shot, projected completion I believe is 2020.

Hi All,I recently bought a land in New Jersey for a residential development.

The “agreement” he sent me is below (identifying details redacted):______________________RESIDENTIAL LEASE and OPTION TO PURCHASE AGREEMENTBUYER/TENANT: XXX Holdings, LLC Date: 2-16-2018SELLER/LANDLORD: XXXPROPERTY ADDRESS: XXXXXXRESIDENTIAL LEASE1) Rent: $2,500 per month2) Lease Term: 36 months, beginning March 16, 2018 and ending March 16, 2021.3) Maintenance: Buyer/Tenant will be responsible for maintenance and repairs ofthe property, not to exceed $500 per incident.4) Sub-Lease: Buyer/Tenant has the right to sub-lease this property with writtenconsent by the Seller / Landlord, and this shall not be unreasonably withheld.OPTION to PURCHASE1) Purchase Price: $ 345,0002) Option Period: 36 months, beginning March 16, 2018 and ending March 16,2021.3) Option Consideration: $100 - All Option Consideration will be credited in fulltoward the purchase of the property.4) Rent Credit: Buyer/Tenant will be credited $ 0 per month toward the purchase.5) Closing Costs: Purchaser will pay all allowable closing costs.6) Expiration: This offer shall expire on March 16, 2021.7) Inspection: This offer is contingent upon physical inspection of property andsubsequent completion of a more formal and signed Residential Lease with Optionto Purchase Agreement.8) Non-Exclusive – This agreement is non-exclusive and can be canceled anytimeby either party.9) Assignable – This Agreement is assignable with written consent by the Seller /Landlord, and this shall not be unreasonably withheld.X_____________________________ X ________________________________Seller/Landlord Date Buyer/Tenant Date_________________I have a few questions: Is this legit?

If you wait until filing season to hire a CPA, it is too late to do effective tax planning or to develop an effective tax avoidance strategy.

The owner didn't develop this because it would have pushed the property into the commercial realm at 5+ units and he wanted the next owner to have the flexibility to decide this.

I could also develop a partnership with a builder.

You can defer taxes only IF you properly set up a 1031 exchange which will require hiring a Qualified Intermediary, about $1000.You have 45 days from the sale to identify the replacement property, 180 days to close on it.

I would use this as a situation to develop a policy for future occurrences.

I would say bad to develop a personal relationship, but it's good for business for them to have a good relationship with you, and trust you.