Screening uncompromisingly and regular inspections can go a long way to mitigating potential risks.

One older I bought at an auction  and a new build.

Also, have plans in the building department to add another unit over the garage.Good Luck!

I know that there are so many (and more effective) ways in which real estate builds wealth rather than just cashflow but still simply trying to wrap my head around the best way to start building my portfolio. 

Is there any tax strategy that can be used to depreciate the actual cost of the building itself if not used by us for our LLP's business?

While initially enthusiastic about the potential of the property, upon inspection, I found myself overwhelmed by the extent of work required for its rehabilitation.As a beginner in this field, I must admit that I feel ill-equipped to accurately assess the necessary renovations and calculate the total cost of rehabilitation.

My wife and I still live in our multi-unit building in Chicago. 

Otherwise, the costs of building pre-fab vs. stick seem to be pretty similar.

Hi - Getting very close to completing my new build construction and had 2 questions around De Minimus Safe Harbor rules/accounting1)  For appliances that I purchase BEFORE official "available to rent" date.

I know that developers in the area have rezoned these kinds of plots and built apartment/office buildings and other commercial developments.I want to bring in an investor or developer to the deal who could provide the funds and knows the ins and outs of zoning.