It would be helpful to know if you are talking about turn-key properties, or value-add properties.

The land owners would move the property ownership in to an LLC.

Because he/she will know the process of buying / selling properties so they can be better suited to ask you the right questions.For example, since I acquired properties in the past, I know the ask clients if they got a home inspection/appraisal / survey prior to closing on the property.

The tax advantages of buying/holding gas stations are pretty great.Many of the components of gas stations including pumps, tanks, external parking areas, and other equipment are classified as either 5 or 15 year property so you can bonus depreciate a lot of it (minus the land value) and get significant deductions in year 1.With the current bonus depreciation rate at 60%, a $1 million gas station acquisition could still lead to $100K+ in year 1 deductions depending on the specifics of your deal.

If the property is paid in cash and later a mortgage is secured does it impact the UBIT question above ?    

so, this evening as i spoke to my wife about a property i have found that i am interested in.

I had properties i own through our lake county and porter county.

If you are sitting on the "fence" waiting to purchase a property because you don't know which candidate will get elected or which "political party" will be more favorable to your purchasing decision, consider the graphs provided below. 

I have seen some sellers wait two years to close on a property those are definitely rare circumstances.

The "good news" is I think there are some tailwinds behind rental properties coming int he next 1-4 years.