Looking back, whats one thing you wish you would have done sooner, or whats one piece of advice you'd give to a young real estate investor?

We have a duplex and the tile around the tub faucet got pushed sideways - upshot is the wallboard is missing behind so we need to tear down existing and either replace wallboard and retile or have a 3 piece smooth surround installed instead. 

Here are some examples of the recovery periods from the IRS 996 Publication:5-year Property: Automobiles, qualified technological equipment, office equipment (copiers, calculators, etc.), appliances, carpet, and furniture used for residential real estate.7-year Property: Office furniture and fixtures (desks, filing cabinets, safes)15-year Property: Certain improvements made directly to land or added to it (such as shrubbery, fences, roads, sidewalks, and bridges)There are multiple approaches to cost segregation studies including the Detailed Cost Approach, Detailed Cost Estimate Approach, Survey Approach, Residual Estimation Approach and Sampling Approach.If you feel like you or your business could benefit from a cost segregation study, first speak with your accountant to see if the tax savings outweigh the potential costs.

The land is tangible and the mobile homes are considered Personal Property and titled like a automobile.

Quote from @William Fuller: When deciding to potentially acquire a piece of land that a wholesaler has under contract, what information do you need about the land or parcel?

Piece of advice - when I started I wish I would have focused on my multifamily niche/expertise from day one vs trying to be the agent for everyone (flippers, STR buyers, land, etc). 

I feel like this is a good move as the equity I have built up and the amount we will receive will completely pay off the place we are looking for and have some more to look at reinvesting in another piece of property, on a loan.

What are your tips and best pieces of advice for monitoring the foreclosure market? 

It definitely helps; but the IRS looks at other pieces as well including occupancy permits, extent of renovation, etc.

the real money is in talking to groups to see if it can be taken out of the flood plain and if there is other homes that have. we purchased a piece of land for 8k and got it out of the flood plain and it was worth close to 40k. land entitlement is one of the highest money making activities. check with the local zoning office or national firms a lot will take a look for no cost and if you can get sewer and water and developable by raising it out of the flood plain you are good for some $$ we did this in newark ohio with a single family home plot that we ended up building on and had to raise the land up 6'. it's a suburb of columbus ohio