We improved it over the 5 yrs we were there, and when we PCSd we sold that. 

Once you have the data reconciled, you can run financial statements that are useful to lenders, investors, and will help you manage overall business performance.

I would like to allocate as much as possible to the farmland improvements in order to claim depreciation and as little as possible to the personal residence and farmland.

I figure that's partly due to the recent drainage infrastructure improvements made in that area. 

I’m actually pivoting out of Fix and flips and rentals to investing in non-performing notes. 

How has market performed in past during economic downturn?

Despite today's pricing, some of the best performing real estate over the last 20 years is in your backyard.  

Your friend could then work on improving his credit profile so he would qualify for traditional financing.2.

How the market is performing here, best places to consider for investing, pros and cons of the local market and any other valuable information you are able to share.I look forward to engaging and sharing with the community.Cheers,Jonathan

It doesn't matter how great a deal is, investors invest in people, not deals...which means they want to see past performance, experience, history in the business, all of that stuff.