is the biggest issue.Like Eric said that gives the lender a lot of extra exposure.

We currently have 27 designated historic districts in SA, the "Federal Historic Preservation Tax Incentive program" offers a 20% federal tax credit for qualified rehabilitation expenses (must exceed $5k) in or around historical communities (May include Contributing properties 50 yrs or older).

Which brings me to my question, if I was to purchase this property, is there anyway of creating an incentive for the tenants to turn down the heat and use less?

On the other hand, when you buy supplies, you realize the benefit in the current year, so you expense it in the current year.Additionally, the tax break is an incentive to invest in real estate and make our neighborhood nicer.But yes, every time you place a property into service the depreciation resets.

I am looking to put together a portfolio over the next 10 years that produces good income and allows me to pursue real estate or other business opportunities and leave the corporate world at the age of 45.My biggest concerns are regarding using debt to grow the business.

Here's a link to the federal site (I think they may require property to be income-producing) but GA may also have a state credit.http://www.nps.gov/tps/tax-incentives/before-you-apply.htm

Our biggest problem with short sales is that they take forever.

Depending on the builder and their incentives offered, your rate addition or upfront cost may be subsidized to make it more attractive for you as the buyer to purchase and sign up with an extended rate lock program.

Seriously, unless you're buying a large, working farm, the biggest, fanciest house in the county wouldn't sell for more than $250,000.

Was your biggest factor when searching for the property location?