Lots of opportunity to make money in both spaces.  

Glad you were able to find a solution that worked for you and to save a lot of money in the process!

We are largely looking to gain some tax advantages through investment properties to help offset the W-2 income.

Just getting into real estate and was wondering about if it is a good idea to wholesale. use the money as down payments and take those properties and set them up as lease option?

Would you: A) Sell the lots now at a discount, take a loss but at least get some money back out to try and redeploy elsewhere. 

Who gets the tax write offs, do we lose the depreciation tax breaks?

It's great to have you here.Here are some recommendations for you:Find and connect with other BP members that are in your area: http://www.biggerpockets.com/m...Set up keyword alerts to be notified of the topics that interest you: http://www.biggerpockets.com/a...Read Beginner’s Guide: http://www.biggerpockets.com/r...Check out BP Money Podcast: https://www.biggerpockets.com/..

Investment Info:Single-family residence private money loan investment.

It's important to understand if this can be corrected or if you are putting off the decision to lose the liability which only costs you more time and money.

Only very few sellers were ethical and honest in dealings involving exchange of goods for money.