No worries on losing the land and since the first 18 sites will be free and clear... no ongoing loan overhead for those.8.

@Joseph SchultsSounds like you don’t have much to lose other then money (most people have family and others to support) so I would say it wouldn’t hurt to try to tackle a bigger deal.

Otherwise, you have a third partner that will insure you don't lose your property..... the bank that holds the mortgage will not just allow someone to come in and sue you and take the property. 

However, the idea that i will only be able to depreciate a small percentage of the houses FMV (because I completed most of the work myself) gnaws at me.Is there a way I can legally gain the FMV I have created at this property without losing it?

However, the idea that i will only be able to depreciate a small percentage of the houses FMV (because I completed most of the work myself) gnaws at me.Is there a way I can legally gain the FMV I have created at this property without losing it?

However, the idea that i will only be able to depreciate a small percentage of the houses FMV (because I completed most of the work myself) gnaws at me.Is there a way I can legally gain the FMV I have created at this property without losing it?

Note, even if insurance pays for all the damage your property suffers, you still lose.

Even with possible downturn in the near future, losing considerable value in a property like that is less likely.

If it is, you're losing money. 

That group usually loses money and should never come into any conversation about REI anyway.