Reading this searing Vanity Fair exposè of Trump's Mar-a-Lago got me thinking: Under what circumstances is a members-only club the highest and best use of a nice piece of real estate? My instinct is to say "Under no circumstances!" but maybe I'm wrong: http://www.vanityfair.com/news/2019/01/trump-marla-and-the-epic-battle-for-mar-a-lago …
In Art of the Deal he goes into how he acquired the property. It's interesting. Anyways, he claimed in the book that the upkeep was about $1 MM/year (198X dollars). Based on his apparent thrift, I'd say he opened a club to minimize the burden of that $1 MM/year.
