Yes, you’re correct.

To thrive in real estate investing, you must maintain a firm grip on your finances.

How do you know if the electrical was done correctly?

You'll be able to maintain most of your capital and you'll learn a lot of useful skills. 

Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.

As long as your primary residence on your drivers license is updated correctly and you fill out this new residence as primary application, it may be no problem.

So, if it is more of the 2nd on there...I'm sure that some people might comment to "Do This" or "Do That"...but how do you know if any of them are correct?  

Many insurers have left the state so it is important to be able to get the correct STR insurance.Start calling around and get some bids and ideas on cost and fit it into your budget before you start offering on properties.

If there was a clear lease violation sufficiently serious and they were given written warnings to correct the issue and did not then you could probably evict.

•Continue tracking expenses and maintaining organized accounts.4.Grow Deal Flow:•Use a small portion of your credit for marketing campaigns (direct mail, Facebook ads, etc.) to source deals consistently.