I personally do hard money lending and investing in the city.  

Anyway the point on the land basis is if you have a very low basis you have just now subjected your land equity to ordinary income and market risks on top of it.Plus personal risk on the loan if it goes bad do you have the money to pay the first off if you need to.  

Last year I barely made any money after all expenses were paid.

Growing up in a household with 6 siblings and parents working hard to survive living in California I became very observant of what others were doing to make money.

If you enter the market with the right approach, there is alot of money to be made.

Here is one of my posts on how it all started .Hey all, I see so many posts, " I am researching, " I am doing my homework" , I am trying to build my team" "Deciding on which area" So many are TRYING but never do anything, like a hamster on a wheel, A LOT of movement but staying in the same place.

Tax Benefits Once Built- Deduct depreciation and cost of maintaining the property - Deduct mortgage interest if a loan is taken outWhile I am not an accountant, I do not see where it would save you much, if any money at all.

However, I keep feeling that we are missing an opportunity to make money off of this house because of the location it is in.

I suspect that this lady may be involved in the scam and then takes a cut of any money wired to the supposed lender. 

I was wondering if hard money lenders or private lenders require you to be licensed as a mortgage loan Officer to find them new clients.