Some other options with the vacant lot include selling it off to a developer (what I would probably do) or finding a partner and rolling the lot into the project as your contribution to a joint venture.

Therefore, we will still be married for the tax year of 2024.Going forward this year I am not sure if we should file our taxes "married but jointly" or married but separately" for the tax year of 2023. 

You can find it here: https://lonestarlandlaw.com/partnerships-and-joint-ventures/

I have a few people that are interested in a potential joint-venture for building a facility. 

Syndications and Joint Ventures could be an option for tackling those larger deals as well.

(In which case you probably could have skipped the LLC and just added him as a joint tenant and paid half the taxes?

Search these terms in the search bar one at a timeBuying controlling - lease option, sandwich lease option, lease option assignment, contract for deed, subject to existing financing, land trust, wrap around mortgage, master lease, master lease option, private lender, joint venture partner, self directed iraSelling on terms - lease with option, lease with rofr (right of first refusal)There is more but that is a good creative list```````````````````````````````````````````Advice - Listen to a lawyer that has prepared alot of lease options, sub 2s, land trusts, private lender and jv docs.DO NOT listen to seminar junkies.

Occasionally one will see a loan agreement or joint venture agreement as well.

To make the project a temporarily one do not use joint compound at the inside corners(where your temporarily wall meets the permanent ones) rather just caulk the corners.

Would I be able to take advantage at all of any rental depreciation, or use it to offset my rental income, given that 1) I'm on H1B, so I cannot materially participate in managing my properties, but I can actively participate. 2) My individual AGI will likely be greater than 150k, and joint filing AGI with my husband is definitely greater than 150k.1b.