Finally, accountability is key, as we take ownership of our actions and results both individually and as a team, creating a foundation for trust, growth, and long-term success.

We often give advice and never learn the end result.

Selling an investment property can result in significant capital gains taxes.

Granted it is unlikely to result in a home run, but it also is less likely to fail big and negatively affect prospects for years. 

Quote from @Luis Maza: Hi all, returning to the game this year and would like to pick your brain a bit, we started working with a wholesaler that will send us properties here and there with the "wholesale" price, but every time we check the properties and add the numbers, the margins are, well, I am not sure, too low perhaps, maybe we are getting to picky, but this is my dilemma for example...Today we got a property, wholesale price 300K, rehab about 50-60K, ARV is about 440k, but with the cost of hard money, we have about 100k cash, hard money interest at 11%, keeping the property for 90 days while we finish the rehab, closing costs,  commissions, we ended with 30k profit before taxes, while it sounds appealing, adding up all expenses and cost we ended up expending 50K on rehab(labor/materials) and about 50-60K with cost of the loan, interest, commissions, etc, everyone makes money, happy with that, but it seems that we are working to produce a 100k for everyone else, while we make 20-30k if everything goes well...In my opinion, we are not really getting "wholesale" price, it seems that we either buying to expensive, rehabs are much more than we would like to spend and the cost of borrowing that money is too high...We came up with thoughts as: lets fund it ourselves with money from a close friend/partner that we will bring in, and that would save us 10-15k here and there, but still, is that the norm now?

The latter two are just a little erratic to me, meaning they produce projections further away (above or below) from what I see in my clients' own vacation rentals.Not sure I can give you a great breakdown.

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Depreciation typically results in a tax loss.

I have almost an identical property and this was my first BRRRR so happy to share the results.

Second, I have a question about REPS status in a longer term sense.The primary benefit of REPS status, as I see it, is to take passive real estate losses, usually from depreciation and accelerated depreciation via cost-segregation, and use those losses to offset active income, reducing current or future AGI and tax burden.I’m clear about this benefit, but what I’m unclear on is the consequence in out years.For example, if I put $100K into a multifamily syndication, and the syndication does a cost seg, resulting in a $40K loss, I believe that a Real Estate Professional could claim that $40K loss against their other income and reduce their AGI accordingly.