Yes, you can apply bonus depreciation to a converted property, with some caveats:- it will be based on your original purchase price, not today's value- bonus depreciation for 2024 is 60%, not 100%- most importantly, you may or may not benefit from cost segregation/bonus depreciationRead this: https://www.biggerpockets.com/forums/51/topics/1075919-five-... 

Buyer pays closing costs & loan doc fees: $3,800 approx.Total Entry Fee: $23,800 to close -- or 9% of the purchase price!

Mind boggling that such a method of purchasing property is even posed - all it's telling me is simply this; " Be Fearful When Others Are Greedy and Greedy When Others Are Fearful'"Warren BuffetMany legit ways to purchase property.

Why do you think purchase contracts are so long and have such small print?

I need help on the lending side for this potential deal...I am negotiating a purchase agreement with a seller carryback of 20-30% as a second-lien position. 

Purchase price: $402,000 Cash invested: $80,000 Purchased 2 lakefront lots - one developed with a SFR and the other vacant.

I see the advantages with DSCR… in that unlike conventional mortgages which have a 10 property cap, and it becomes exponentially harder to purchase each time… DSCR allows you to build a portfolio. 

2 years ago I purchased an acre of land in Arizona with a friend.

Overall for land purchases, you'll want to make sure it's not wetlands and it's not landlocked.

Quote from @Cheryl J McGrath: I'm having issues getting property under contract.Agent/seller wants a pre-approval of funds first.I can't get a pre-approval for every property or is that the way it works Thanks Are you actually intending to purchase the property?