"If you have a deed and are required pay a fee annually to keep the property, is it really yours?" - This is the question isn't it? Ultimately the government owns real estate and we rent it from them.
Well, I wouldn't advocate for looking at it as "renting from the government" but unless you're saying that the cost of maintenance/etc approximately equals the difference between property tax and market-rate rent, couldn't you treat any surplus as a "discount"?
Great to see you back!!! I always enjoy reading your content
"If you have a deed and are required pay a fee annually to keep the property, is it really yours?" - This is the question isn't it? Ultimately the government owns real estate and we rent it from them.
If you want to look at it this way, they're renting it to you at a massive discount vs market rate.
No, not really. This is equivalent to saying NNN deals are cheaper rent. Not at all. Leasee bears the cost of maintenance, repairs, assessments, etc.
Well, I wouldn't advocate for looking at it as "renting from the government" but unless you're saying that the cost of maintenance/etc approximately equals the difference between property tax and market-rate rent, couldn't you treat any surplus as a "discount"?