It depends.If the property that you ended up not buying is both the same asset class (residential/commercial) AND ALSO is in the same geographic area as where you are currently investing, you can write this off as "Expenses for Properties not Purchased".  

And while the normal course is for folks to grow actively and then transition over to passive investments, there's nothing wrong with going the other direction and starting with more passive investments that are opportunistically located geographically.  

You could start there and then branch into some other strong areas that give you some geographic and niche diversification.  

I love the team that I have in place, which is a major factor keeping my focus in the same geographical area.Going forward, I'd like to explore multifamily rentals and maybe expand to a second market such as North Florida or Central Arizona.I'd also like to get more involved in the real estate investing community in general and attend some meetings at a local REIA.I'd love to share any of my experiences if it helps someone.I look forward to being more involved as a member of the Bigger Pockets community. 

Here are the numbers:Purchase Price: $203,000.00 Purchase Closing Costs: $1,000.00 Estimated Repair Costs: $3,000.00 Total Cost of Project: $207,000.00 After Repair Value $284,000.00Property Description Maintenance free home in Greeley.

Just because the zoning description says (.58 acres with 3,000sqft min per dwelling so 8.42 dwellings or 8) that does not mean what you are wanting to build is going to be allowed.

There are restrictions on how close geographically & time that you can use the VA loan.

In the description of the property agents are saying,"Buyer is responsible for C/O and certs".

I would make note if a roof needed replacement, ages of systems, photos of and description of damage.

.), and send many direct mailers to property owners that fit the description in your target area.