The following code supports Susan's and my remarks:§ 1.263(a)-1(f)(1)(i) Except as otherwise provided in paragraph (f)(2) of this section, a taxpayer electing to apply the de minimis safe harbor under this paragraph (f) may not capitalize under § 1.263(a)-2(d)(1) or § 1.263(a)-3(d) any amount paid in the taxable year for the acquisition or production of a unit of tangible property nor treat as a material or supply under § 1.162-3(a) any amount paid in the taxable year for tangible property if the amount specified under this paragraph (f)(1) meets the requirements of paragraph (f)(1)(i) or (f)(1)(ii) of this section.

He turned around and sold the home to the city for $10,000 through a blight elimination program at closing he gave me a check for $4,000 as there were some code violation liens on the home.The second deal was a 25,000 sq ft commercial building.  

Because the area has 2 or 3 distinctly different areas, you'll need to be a little more specific than zip code.

There is a dashboard tab to see the most relevant information about each unit from a single section, along with color-coded current rental status with yearly summaries. 

The city of Milwaukee has actully code on how you have to contain some breeds like rottweilers and pitt bulls that effect landlords, because they require certain infrastructure like a completley contained "cage" an agressive dog cannot jump out or dig under the fence.  

The main problem you have is the legality of the unit and making sure it meets code for things like egress.

I live by the code..

—The term ‘residential mortgage loan’ means any consumer credit transaction that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or on residential real property that includes a dwelling, other than a consumer credit transaction under an open end credit plan or, for purposes of sections 129B and 129C and section 128(a) (16), (17),(18), and (19), and sections 128(f) and 130(k), and any regulations promulgated thereunder, an extension of credit relatingto a plan described in section 101(53D) of title 11, United States Code. ‘‘(6) SECRETARY.

If you're a residential landlord and the tenant or any other property owners left behind property after vacating the premises, see CA Civil Codes 1980 - 1991 before you even think about moving, disposing or keeping their property.

You might see if there are any such interests on the secondary market that you could identify and buy.Purchasing Tenant-In-Common interests, Delaware Statutory Trust beneficiary interests, Land Trust beneficiary interests and other "disregarded entities" qualify for 1031 Exchange treatment, but Section 1031 of the Internal Revenue Code specifically excludes any kind of partnership interests for 1031 Exchange treatment.