Account Closed , Sounds like a good idea PROVIDED you can build them at the right price.First i would suggest you talk to Drafts man or Architect to figure out the $ cost per sqf in your area. more often then not building from the ground up is more expensive them buying existing building. and the RETURN ON COST including the land, will be much lower.

Originally posted by Account Closed:Steve Vaughan that's a great idea!

No accounts in collections on credit report.I also charge a 20% ($60) late fee on the 2nd and a $20 per day late fee everyday the rent is late.

Currently I'm flipping a house in Burlington County but looking to buy more value-add rentals throughout Jersey and New York.I have a few questions for the community, where did you find your Accountant?  

Talk to your accountant and decide what is better.

I owned that rental and literally used the cash flow to build up a reserve account.

Set up an escrow account that I make payments to?

thanks Account Closed  I'll look into the ground panels

The one on bankrate is pretty useful too.I would also share the same thoughts that Account Closed has as well. 

The year of your 1031 exchange your accountant filled out the form 8824 with your 1040 which reported the 1031 and allowed to allocate basis among the 8 and set up new depreciation schedules.