The Section 179 deduction allows you to deduct the full purchase price of qualifying equipment or property in the year it’s placed in service, rather than depreciating it over 27.5 years.

Even though my cabins are fully equipped for long term, I’ve never gotten a month long stays and although this is not impossible, I personally would never spend $3-4K (considering 1 bedroom hiuse) on a vacation in Big Bear :) not that I don’t like the lake so much, but for the money I rather travel to South America and explore mountains and have new experiences in Chili.Quick tip to get your calendar solid and the cabin more profitable: when you have those weird one day gaps between bookings, offer those to your existing reservations. 3 out of 10 people will stay longer so I just send them a money request and they pay for one more night at 40% off.

Fire rating, mechanical equipment and materials often change and are more expensive.

Like vehicles  airplane or equipment for your contracting business .. or real estate with its bonus depreciation but its going down and not as attractive as a few years ago for sure.   

Oh, I work as a photographer, and though I've never done real estate photography my skills and equipment might eventually come in handy.

My thought was to clear the back acre, cover it with gravel (or millings)  and offer machine/equipment storage until the proper time to build the expansion.  

You'll have to pay tax on the remaining FFE (furniture fixtures and equipment) and good will.

REPS hours.4) Getting ready to rent the property pre-close but post-contract:  Understanding HOA rules and incorporating them into proforma lease agreements; preparing and posting rental advertisements; shopping for, selecting, and purchasing furnishings to equip the house to be put on the rental market.  

Working with a CPA ensures you are fully prepared and equipped to take advantage of the latest updates.

I do not know much about you but sounds like your advantage is your construction knowledge and the equipment or relationships you have with that.