Example:A 125,000 propertySay 105K is building and 20K is land.

The other 20% is land, and is not depreciable. 2) Determine the value of the land, and subtract that from the purchase price.3) Componentization.

In my market seattle, areas like Ballard, Fremont, Greenlake, Madison Park, Magnolia, Queen Anne, Wallingford, Laurelhurst, Sandpoint, Bellevue, Mercer Island, Medina, Kirkland and Redmond all did okay during 2008 through 2010.3) Watch out for the middle markets.

Rick, you said it was in the kitchen - is it in a location where you could possibly install in island or some type of storage space over the bad spots to cover them?

If your worried about the planet Google "plastic island"

On the island (Seaside and neighboring towns), you can rent however you wish (check with each individual town, as they may have ordinances for one week minimum).

Am I the only one who would consider buying an island  someplace warm, Belize to Phillipines $100-$200kBuild a small hut and hammock on beach $25k, maybe $50k if I wanna be fancy.Buy a local distillery $100 kSpend a couple months drinking on the beach until I get rested, bored or liver fails.  

Exit strategy is Land Contract.

Hello my name is Matthew. i found BiggerPockets years ago and have been interested in real estate since i was in high school. i made excuses and let life get in the way for many years.....bad decision seeing i wasted all that time. fast forward to now i am married and have an almost 2 year old son ( wow he grew up so fast). right now i have a decent job with a very caring company but it just isnt enough. though i can save some i wont be able to provide the life for my family i feel that i should. i have been rebuilding my credit for the past 18 months. now is the time for change, yesterday was the time for change I WILL GO DOWN THE PATH TO A BETTER FUTURE. i have listened to almost all the biggerpockets podcasts, read/listened to many books, i am a delivery driver on nantucket island so i listen to audiobooks and podcasts all day while working. i have been started looking for deals but still having a little difficulty analyzing deals. currently i live on cape cod Massachusetts and commute to nantucket everyday. i use the hour long ferry ride each way to search for deals. i have alway been interested in owning enough multi-family homes and apartments to supplement my income. i am currently away from home and my family 14 hours a day, sleep 6 to 7 hours which leaves me spread pretty thin. i am grateful for such a wonderful community that is biggerpockets for coming together and sharing, teaching, helping and building one another. now that i have kind of ramble on i will get back to the point. i am interested in the BRRR strategy particularly with multifamilies 3 units and up. i would also love to learn how to analyze deals better so i can either wholesale them to or partner with other investors. i am not opposed to investing out of state but dont have a team formed yet either in or out of state. i have been all over the countryit is great to be here, i appreciate you all and cant wait to know you betterMatthew Hudson

But, I just met a guy who has gone through the three years and says he is going to get part of an island in Crystal River, because the guy didn't pay the tax and is running from the Law.