From wikipedia on ORDINARY INCOME vs CAPITAL GAINS:Under the United States Internal Revenue Code, the type of income is defined by its character.

Even if you can pay the monthly rate does someone want to spend everyday getting 5 letters in the mail for this code and that code with a bill for each for one doctor visit?

Lastly, keep in mind tax code.

If your "gut" is to be extensive enough to need to remove the electrical entrance for an extended period, you can have the entrance moved to a temporary mast on the property ... perhaps even with an panel (may need to be sheltered to comply with local code) to provide electricity on-site.The other alternatives are to 'pay a neighbour' to be able to run a few extension cords from their property or use a generator.

Not sure you can file a storage lien (see link below), and a bonded title is a pain (unless the car is worth it).Texas Transportation Code Section 683 Abandoned Motor Vehicleshttp://www.statutes.legis.state.tx.us/Docs/TN/htm/TN.683.htm

Dealing with commercial building codes, which are a much more serious matter than residential.  

One additional thing, after I had my contractor go through the property and come up with list of repairs needed to bring the building up to code, I renegotiated with the seller to 165,450k.

For the record, it is not safe, nor is it code-compliant.

I also like http://realtor.com, you can search in a radius of a city or zip code.

Taxpayers have a three (3) year window as soon as they move out of their primary residence and convert it to rental or investment property in order to take advantage of the 121 Exclusion ($250K/$500K tax-free exclusion under Section 121 of the Internal Revenue Code).