My county website also offers probate leads via email daily in a excel file format.

I have a good friend who sold out his restaurant via auction.

Depending on your situation and your investment, this might more than make up for your inability to offset taxes via depreciation. 

Not a stellar deal, but a real winner that just fell in my lap with virtually no effort required.

That may change down the road, but it's not in my current plans.I am also not limiting myself to only purchasing brand new turnkey properties; I am willing to do some very 'basic' renovations via outsourcing the work to others such as upgrading/replacing floors, countertops, appliances, paiting, etc.

Relatively well organized and easily digestible information (I am not affiliated with the site in any way, just came across it via Google search).Keep us informed as to your progress and best of luck!

I understand that the vacant lot needs to be determined suitable to build on as well as permitting and design approval for my home via the county and also possible construction loan/financing approval.  

Hope I'm staying within the BP boundaries with this post.

You can pick this information up free via BP forums and podcasts. 2.

If you can find a way around it via lease options, seller financing, etc, I would DO IT NOW.But it will come eventually.