These start failing after 50+ years, causing lots of backups and problems.

You can read about the differences here: Cost Segregation Study Approaches ExplainedLet’s first start with what the approaches:Detailed Engineering Approach from Actual Cost RecordsDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling Approach"Rule of Thumb" ApproachSo which of these approaches is required by the IRS?

While this has been an unfortunate start to my investing journey, I still believe in RTR’s future as I see great opportunity here for investors when it’s done right. 

I started by patching about a dozen (not small) holes in the wall, re-doing all the drywall in the bathroom, installing new shower plumbing, putting in recessed lighting, installing seamless LVP throughout, texturing/priming/painting all walls, installing new 5 inch pine baseboard all around, and installing custom bathroom vanity/pantry cabinets, and hanging new custom shaker doors in the kitchen.

I’d love to hear more about your goals and where you see yourself starting in the investment space.Looking forward to connecting and sharing insights as you grow your expertise—don’t hesitate to reach out if you ever want to chat or bounce ideas around!

Quote from @Grant Shipman: Hey BiggerPockets Community,If you’re raising capital for real estate syndications, you need to be aware of SEC regulations—because one wrong move could put you in serious legal trouble.Many new syndicators think they can just start pooling money from investors without following the proper rules.

You’re in the right place, and it’s great to see your enthusiasm about getting started in real estate investing.

I spoke to her and they were going to do a light remodel (barely lipstick on a pig) and start renting the place. 

The practical reality is wanting to get started in passive investing with lower dollar amount minimum requirements.

Fortunately for me, I started investing a time in the market where everything went up.