Future Appreciation: Holding onto the property allows for potential appreciation over time, especially since it’s in a neighborhood with homes ranging from $500k to $1.5 million.Pros of Renting: Steady Cash Flow: Renting the property, especially with an ADU, could generate substantial monthly income, especially since there’s no mortgage.

Fridge - I could purchase the new door and deduct.

So I would have 23k stuck in the deal and would be losing close to $700/m before I deduct any expenses.

Startup costs paid out of pocket should be recorded as capital contributions and may be deductible as startup expenses or amortized.

Purchase price: $85,000 Cash invested: $33,000 Cash flow is after all expenses including vacancy, maintenance, and capx deductions.

@Drake BackmanBigger Pockets is a great place to find a tax strategist specializing in real estate taxation.A good real estate tax strategist can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding a tax  strategist specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your tax strategist remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year.

Just deduct security deposit and move on.

I intend on sending the tenant a bill for the exact repair cost as "additional rent" (per the lease) instead of evicting in the winter and deducting from the security deposit.

It links to our business bank account and our business credit card so come tax time, deductions should be easier.

The tax benefits refer to the tax deductions from mortgage interest and property tax.The returns mainly rely on appreciation, and the cash flow only improves in the last few years, also depending on securing the 5% refinance rate.I've learned a lot from this forum, but as I start to operate on my own, I'm still not completely confident.