I could buy just land with all the proceeds but it seems not able to use it for proceeds to building anything on top of it.Sounds like if I had $500k (example only), it would all have to go to the land I want but if I used $250k of it for building on top, I’d incur ‘tax boot’.Perhaps the only option to get into a triple net lease realm with my situation is buying an existing commercial property and modify the buildings to my needs, with other money.Thanks for your input!  

@James Thomas Nakashian You can use your regular process and modify your lease accordingly.

Do you modify any of your leases?

The buyer says in text messages that he is the actual buyer, will not list or market the property, and will not enter the property before closing.However, he refuses to:Add an addendum or put any of this in writing,Modify the wholesale clause, andChange the clause granting unlimited access before closing.He keeps saying it’s a “standard contract.”Would you proceed or consider this a red flag?

.), you're often limited to $25,000 of passive losses per year—and that phases out completely if your modified adjusted gross income (MAGI) exceeds $150,000.Real Estate Professional Status (REPS) or the STR Loophole: To use rental losses to offset W-2 or other active income, you must either:Qualify as a Real Estate Professional (750+ hours, primarily in real estate) and materially participate in the property.Or, if it's a short-term rental (average stay under 7 days), materially participate (100+ hours and more than anyone else) to convert it from passive to non-passive—even without REPS.Standard deduction vs. itemizing: You mentioned your CPA said deductions didn’t help due to the standard deduction.

If payer’s close, modify; if not, enforce.

I couldn't modify or delete the listing and I couldn't block the calendar.

And get based to your children at the new basis when you die, essentially allowing you to pass the tax savings at the new basis.I am not an accountant, and I always get my tax returns modified (implying I am not an expert).

Being right there with the tenants will limit your problems, just make sure to modify your standard home insurance policy.While your goal of, "the idea of restoring properties to there fully potential while providing housing for the local community" is admirable, it will NEVER happen.You're not the first, and won't be the last, investor with a big heart. 

We also had a borrower get very close to closing then they requested the loan documents be modified (substantial revisions).