Intel is building $20 billion plant here, Google is building data centers, and Amazon and Meta are buying hundreds of acres of land. 

Thanks Matt, I am looking to build a portfolio of both long and short term rentals. :)

Self-employment tax will be required on the net gain, which will of course be 0 after property expenses and depreciation.

-$1700/yr for taxes (less than $150/yr each)?

I had my tax guy open an LLC for me this spring, but don't know much about maintaining it.

New investors can go at there own pace, build relationships, and get better deals on materials and labor. 

He has talked up the tax benefits that I could take advantage of by making such an investment. 

Builders typically are NOT long term buy and hold investors.they build they sell they take their profit and do another new build, rinse and repeat.There’s still a delta between seller ask and buyer expectations on existing property which makes sense.

I noticed on Zillow that asbestos was listed as a building material, but I didn't pay attention to it until my insurance agent mentioned it.

Yes...bought the building.