I reviewed Form 8824 and after much research I generally feel comfortable completing the form as well as how to depreciate the carryover basis and additional (or excess) basis using either of the two allowable methods (general and simplified methods).  

Market Research: What methods do you use to analyze and understand your target market?

I want to invest in real estate by using the BRRRR method.

Lindsey, you’re right there is a lot involved with house hacking out of state and I’ll be circling back to that particular method in the near future.

But they'll cash flow even with property management and I can pull most if not all of my money back out on the refi because of the LTV.So I guess this is the right method for me to be pursuing right now. 

@Philip Muka have you explored/researched the "asset island" method? 

Better than Airdna use the Enemy Method. 

PM me your preferred method of contact!

It is fairly basic compared to other changes in accounting method.

Or is there a more efficient method to do this?