It is imply the nature of some properties.  

The downside is SE tax.If it is merely an investment in nature, and does not rise to the level of a trade or business, it is ordinary, portfolio income. 

., to related parties, for less than adequate consideration, etc.) are subject to greater scrutiny.

The heat is natural gas with cast iron radiators throughout the house.  

I recently dealt with a buyers agent who just did not understand the binding nature of the contract terms, despite my best efforts to explain it including the specific line and item numbers from the contract.

Those are the bad things that happened, but the good things that happened are it made me learn more about real estate so that I didn't make the same mistakes, it made me create criteria to look for when searching for tenants, it made me be more hands-on with the business, it made me look at the numbers for adequate cash flow, it made me be a better investor actually it made me an investor because that first deal I was not an investor I was just a guy that bought a house.

If you have adequate Comps showing land values then you could use THOSE VALUES. 

I just haven't been doing any bookkeeping basically, and need to get set up and ready to file taxes, and continue to maintain adequate bookkeeping. 

Another nondescript commercial strip nearby has a coffee roaster & that's proved very popular so a bake shop next door was a natural addition. 

I have always had an interest in real estate and finance so after graduating with a bachelor degree in Finance it was only natural for me to be even more intrigued with all that real estate has to offer.