Earlier this year, the government did not renew or pass any law to extend bonus depreciation back to 100% after 2027, so the current phase-out schedule remains in place.In the meantime, I would recommend doing some tax planning to assess where you stand in terms of projected tax liability for 2024.

I'm thankful that my parents were able to live the American dream before my father passed away, and that my mother has a secure financial future during her remaining years.Its difficult to get ahead even if you can speak English and are educated but how much more so if you are a poor immigrant.

Hey, This is a unique situation, I purchased my second property in June 2024, a single-family home that used to be a duplex, and is still zoned as a duplex ( remains 2 addresses).

Just remain wary of the potential consequences of operating in an anti-landlord jurisdiction: vacancy taxes, potential vacancy control, inability to remove deadbeat tenants, etc.Coincidentally, Jesse Vasquez posted "why your MTR isn't renting" on YouTube yesterday.  

These costly improvements are pushing rents up.While effective rents (factoring in concessions) may be declining, asking rents remain high as landlords aim to maintain their property value.

And in 3-5 years, these “base hits” look like home runs due to inflation and your tenants paying down the mortgages.

Their comparable sales are almost always significantly inflated, and they lack the expertise to accurately budget for renovations.

If I were you I’d spend more money on books and maybe $5-10,000 on education/mentoring and put the remaining $35-40,000 towards your first flip and in building a great relationship with a reliable contractor.

Market is no longer crazy which is good but still inflated and hard to find good deals.

However the banks that are underwriting these deals are killing us (Frost and PenFed).The home we are wanting to purchase will cost about the same as we are paying now so the Debt to Income should remain the same.