It also comes with a restaurant that hasn’t been in service for 40 years, but the structure is in surprisingly good shape.Here’s what I’m thinking through so far:Standard due diligence: +Phase 1 and 2 environmental, city plans/zoning, health department approvals for bringing the restaurant back online.Talking to the Army Corps of Engineers and the local harbormaster about dredging (not something I’d do immediately but want to know long-term outlook) and figure out generic cost for budgeting purposes. 

Basically, I'm trading $300-$500 per month for this benefit.

The IRS wants the account to be used solely for retirement purposes, so personal benefit isn’t allowed.

Has anyone done a cost-benefit analysis, and do they save you a bunch of money on taxes?

The phase-out schedule goes 100% in 2022, 80% in 2023, 60% in 2024, 40% in 2025, 20% in 2026, and 0% after 2027.

Their take is silly as there would be no benefit to holding the certificates, paying subsequent taxes and moving to foreclose.Refer them to C.R.S. 39-11.5-108 and C.R.S. 39-11.5-109, which are closely related.

You’ll also get to maximize tax benefits like depreciation, which can help reduce your tax bill.All paths have their pros and cons, but the key is to start building relationships, learning the market, and staying informed.

That way you’re not furnishing a unit and fielding messages while running on two hours of sleep.Once you’re ready, MTR could be a great next phase — your property’s location is tailor-made for it.

What I’m not as strong in (yet) is handling the backend side of deals— analyzing deals,  structuring contracts, etc.I’d love to find an investor, wholesaler, or small team that could benefit from having someone focused on lead generation and phone work.

The real estate partnership will also benefit from the buildings increased value using the expected income approach valuation method.