Getting into a property that has negative cash flow can seriously hurt, even if you've thought out a magnificent plan for it.

We are planning on doing 4 deals about this same size.

However, the good news is that there are other planning options available where you don't need a real estate license.

Planning to buy another primary in a year or so!

They say will pay for this past month, but plan to leave May 1st.

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.

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.

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. 

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?