Good afternoon allJust for general discussion.....and I know there is a lot of information not given....I was discussing with several colleagues at a recent investor meet up, on their thoughts on best practice/method to acquire another property management company in our geographic location.We were approached by another management company who's owner wanted to retire and presented us with an offer.Original discussions with the other management company(seller) had them wanting a one time payout, say $100,000.

Here are a few definitions that you absolutely must know.Bookmark this thread and use it as your cheat sheet for 2024.Okay, let’s dive in:Here are the terms that I’ll define in this thread:-DEPRECIATION-BONUS DEPRECIATION-COST SEGREGATION -BASIS-LAND VALUE-IMPROVEMENT VALUE-3115-RECAPTUREDEPRECIATION:Depreciation is the decrease in $$ value of your asset over time due to wear & tear, etc.Standard depreciation is deducted evenly over 27.5 years for residential and 39 years for commercial.Even w/o cost segregation you get to deduct depreciation each year.BONUS DEPRECIATION:This is an accelerated depreciation method.

If you have any tips and tricks and best methods to getting my first sale that would be very helpful and appreciated. 

Consider using the snowball method to help you eliminate debt.

It is a methodical approach to investing that allows you to earn a higher combined rate of return (Cash Value plus Real Estate)

The floor has quite a few issues (high points, low points, pitting, flaking over an 8 sq ft area where there was a plumbing leak that they caused, and many sections are still wet even after a week).

A good rule of thumb is materials time 3 you left out appliances potential plumbing problems potential electrical problems that looks to be more rot on that roof and meets the eye

The legal method is to file for an eviction and slog through the time-consuming court process.

Another benefit to purchasing Turnkey would be they in all likelihood would have vetted the tenant and would have methods in place to make sure a higher quality of tenant was delivered.

how can i find someone to lend me money to use the brrr method?