However, one key distinction is you have to separate building from land so the portion that is land is not depreciable. 

Long Island has different towns, incorporated villages, and other local municipalities with different requirements for renovation projects.These details are important to iron out before getting deals under contracts with wholesalers.

And exciting and for the very few that can pull it off can be quite financially rewarding.. you don't need architect type skills that's not needed until your actually going to build in most cases.. what you need is land planning Zoning city politics and it helps to understand basic underground construction .. but you don't need to be an engineer or especially an Architect to pull these deals off..

Contrasting island color.

Assets are the "safe" island of wealth. yes, one could just sit in Gold and look, by the #'s would have 4X vs the declining dollar.

We took our capital off the island now. 

They will say the weather etc. but you could live in another state and fly to the caribbean of an resort island every week for a weekend and it would still be cheaper.Where i see the bigger impact is on small businesses, epsecially mom and pop restaurants etc. if they get hit with this tax it will shut them down. 

Again..it was not a "need" but rather a loan for a renovate and flip auction property (On Whidbey Island Washington where we lived then).

Hey JD,  I recently did my first STR on Chincoteague Island VA and I agree with you the everyone seems to have their hand in my pie. 

Is this AZ in the county islands?