The first involves hiring an engineer or specialist, who meticulously categorizes components to maximize segregation and depreciation acceleration.

Networking and education are key components of success in any field, and it's great that you're prioritizing both.

It's a good move to keep things separate – set up a business checking account for your rental income and expenses, and maybe a savings account for unexpected stuff or future upgrades.

Check all the CapEx components to the property and have a good contractor with you if possible.3) Schedule a cadence for communication and updates on the house, even if progress was minimal during any given week.4) Demand quality and coach your contractor.

., testing main components, general mechanicals condition, basic roof condition, any major red flags, etc.) for a lower cost.

It's impressive to have it almost ready to be rented, especially with the unexpected challenge of repiping the house.

What you cannot do is deduct the overall loss, of which depreciation is a component. 

Furthermore, the inspection must be performed by a certified liquid waste hauler and dated within six months of the sale.Additionally, there's a mandatory reporting component: liquid waste haulers are required to submit the inspection report to county health officials.

Rehab projects almost always come with unexpected / unaccounted for costs.

So, interrupt the pattern and do the unexpected to learn more:)