Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

Ultimately, we've decided to hold off and pay down our outstanding debts and save for a cash down payment on our first rental property.

A full bathroom addition can potentially boost value by up to 20%, while a half bath might add around 10.5%.

to boost your initial outlay, or to improve the properties, etc... 

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

My main concern is regarding cost-basis and future capital gains tax when I ultimately sale the property. 

The improvements boosted its market value, leading to a successful sale at $65,000 on 8/21/2024, showcasing our strategic approach and effective project execution.

Remember, if you have a contract and can't ultimately assign to a third-party, you're still responsible for closing on the deal unless you have a way to terminate the contract prior to the closing date using a weasel clause. 

Sometimes you can have a ONE-YEAR boost of bonus depreciation resulting from cost segregation.  

Hi Maria,When flipping properties, cutting costs on materials can significantly boost your profit margins, however, you always want to maintain a minimum quality so my first advise on how to spend less is to plan the rehab in a way that optimizes the value return you're getting.