We are not real estate professionals.1) How would you handle the classification of the property in the 2023 tax year and would you utilize a STR depreciation strategy?

With this strategy, we knew exactly how each house was operating and we could intervene or change leadership of the house if necessary to assure operations were going as we expected. 

It can be very easy to get tangled down in the weeds of all the different strategies.

Read on for some useful info:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Why is Property Class so important for investors to understand and apply in their investing strategies?

My primary strategy is Fix and Flip, and I bring a DIY attitude to every project.

You can look into different strategies in the forums.

I recommend getting a few quotes and choosing one that is right for your financing strategy. if you are trying to get fix and flip money there is a wide disparity in rates and charges.

Essentially, your new replacement property will consist of (1) a thirty plus year ground lease on the real property you already own; and (2) new capital improvements made on the real property you already own pursuant to the new thirty plus year ground lease.

Here’s why:Affordability: You can find solid properties here well within your $200k–$300k budget.Cash Flow Potential: Indianapolis has a growing population, a diverse economy, and relatively low property taxes compared to some other midwestern markets like Cleveland.Investor-Friendly: Indy is landlord-friendly with strong rental demand, especially in neighborhoods near downtown, universities, and revitalized areas like Fountain Square or Irvington.If you’re open to a strategy involving light renovations, there are plenty of opportunities to add equity and boost rental income here.

Please advise on legal counsel and your strategy to get paid