Your property has a finite useable life, and fortunately the tax code allows us to account for that and subtract that value.

Uncle is fortunate for you making such a great offer (that's the way to see it). 

Hi all - So this is a post that is essentially meant to generate thoughtful discussion about how I should start investing in real estate with the wealth I’ve been fortunate to generate. 

Fortunately the lumber requirements have been minimal for these projects, but costs are certainly sky high.

(Fortunately the original closing attorney stepped in to cover it since they missed it at closing.)

There was a slight concern about theft during the renovation but fortunately all went well.

Fortunately, there's a ton of education out there on CRE debt especially when it comes to programs like Freddie SBL or Fannie Mae Small Loans.

Fortune favors the bold.

One big learning lesson that I was fortunate enough to be able to take away very early on in my investing career was how crucial having reserves is and how valuable not over leveraging yourself on your pre approval value may be.Especially being an investment focused agent myself, I have always heard investors stress how important having adequate reserves is, and certainly made sure to follow their advice for my own 1st property that was given from collectively decades of investing experience.

I am fortunate to have a relatively large lot (28k sqft) so there's plenty of space to build and plenty of parking.