Need to find a place to park the rest of that liquidity though...not a bad problem to have.

That is the closest I have seen - the rest like the money more than the actual mentoring.

I am imagining an App which you could click Start when leaving the house and End when returning home and the GPS functionality of the smart phone would do the rest.

Again, the quality properties are bid up far too high and the rest are not suitable.

Total cost to paint yourself maybe $100 if you get 5 gal $60 paint that will hide well enough and then rest of money on rollers, drop cloth, $5 for silicone caulk, $2 caulk gun.

$75K of it is subject to depreciation recapture tax (currently your ordinary income rate, caped at 25%) and the rest, $50K, is subject to capital gains tax (15%, assuming long term).I think you're saying, Bill, that in my example, you would apply any money received to the basis first.

Rich in Georgia we call them pipe farms.You have some that are raw land but most are projects where the developer went bust and couldn't sell any lots to builders.Right now except for some small areas of Georgia you can still buy a 2 to 3 year old brand new construction home that was foreclosed for less than replacement cost.This means even if a bank gave a builder the lot for free and the builder put a house on it they couldn't sell it to break even going against 2 yo 3 year old REO's.Another issue is some of the subdivisions say have 200 lots.100 were sold at the height of the market.100 were leftover with pipes and streets in with lights and nothing else.The 100 that were bought many are just holding hoping for a recovery.The rest are doing loan mods,short sales,or going into foreclosure,or builder is desperate to dump the last few homes they have.At the height of the market they sold for 250,000 and now they are 160,000.If I buy a lot to build on or for investment there is high property taxes and HOA fees even on the empty lot to carry.If the lot and HOA comes to 200 a month that is 2,400 a year I am carrying.If I am not building a house to sell the lot has to go up in value by that much every year just to break even and then lose money when I sell.Another issue is say 4 bed 2 bath homes were built in the front half and now a builder wants to put ranch single story homes in there at a lower value to sell in this market.We had a recent lawsuit in my county over just this matter.The community sued the builder as the ranch homes they had plans for would not conform to the original master plan.The homeowners said we would rather have empty lots than allow non-conforming homes to be put up that would affect the values of our subdivision.The developers say we need to build for what the demand is today but the county,city,and community say we understand you need to make money but not at the expense of our long term master plan vision.So many times they cannot come to an agreement.I can get you lots with pipes for 1,000 a piece.It's great if you hold long term but the current inventory has to be worked through in my area before people build again in mass.There are still custom builders for plots of land etc that are one offs.So I haven't bought any lots for the reasons stated.

The office is exclusive to the rest of the house, and nothing else is kept in that area.

The age of the properties in the area can make for a very cheap buy but you do have to put the money into the rehab and all of that money rest on you finding that right tenant.

So I went ahead doing due diligence with the rest of the stuff.