I went through the “gathering of mortgages” phase many years ago.

I think this is going to get worse before it gets better, and 2024 is going to be a part of the "getting worse" phase.

So real estate is generally a lot harder now then during that growth phase.

You could even potentially flip that contract as it's not super easy to get a contract that a seller is willing to wait through that entitlement phase.

It changes to 80% then decreases by 20% each year until it is phased out.You can do a look back as well and claim the resulting write-offs without amending prior-year tax returns.

We are very much in the beginning phases of this research and know nothing about the business loan, etc.

I would like to just add a few things for the FWIW files.Having been around this industry all my life I have seen most of the coachs and Know many personallyDave Del Dotto owns some really cool winery  in Napa and one happens to be across the street from my house ( I have since sold and moved) So I have shared a glass or two with him over the years as he regaled me in the start up phase of teaching real estate on TV etc etc.I have funded deals for most every trainers students as I fund in about 20 some states..

If they're getting a loan...they're going to have to have at minimum Phase 1 done and probably phase 2 when they see all that stuff....and then they're probably going to want you to clean all that up.Sometimes on google street view you just see this nice building, but when you get out there you can make out that it was a dry cleaner...maybe the old sign is there inside, or maybe you can make that out in person from the faded paint.   

We will build out the first phase of 50 spaces and keep going in 50 space chunks over time. 

Protect yourself when doing the rehab, i.e. only pay in phases, until you get to know/trust the contractor.