I asked about the development of the island.

The party places (Ibiza, Canarian Islands) are still having prices go down as well, it'll take some time before this market rebounds.

Craigslist is already an island by itself as it doesn't allow syndication.

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"

@Brian Parks @Jordan Solomon There are paid alternatives.

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).