@Matthew Ward Any upgrading or remodeling would need to be capitalized and depreciated unless it's small enough to fall under the de minimis safe harbor rules but you'd need to talk to your CPA about that election.Generally a large part of remodeling costs would be considered tangible personal property that could be depreciated over 5, 7 or 15 years as opposed to the long life depreciation schedule of 27.5 years for residential rental property or 39 years for commercial property. 

This is a summary of the from IRS regulation:“( (d) ) Acquired or produced tangible property—(1) Requirement to capitalize.

I'm not trying to sell anything, market anything, or promote any kind of products.

Facebook is great for repeat customers and friends who can promote your property.

(REVISED POST due to someone reporting me for Self Promotion)80/15/5s are coming back!

I hope someone out there can and does help, I feel like there are plenty of other people that need to know this besides me.BP does not permit self permotion even on threads where people are asking.. thus people have to recommend someone they use, but after a while it gets old as it’s not their business to promote someone else’s business each and every time someone ask on BP...American Tracers is good, I’ve used them plenty, and it’s founder Corey Crane, is on the forum.

The building is classified as 27.5 year depreciation, but there are assets (personal/tangible property) which depreciate over 5 years and land improvements which depreciate over 15 years.

I've been paying on it all, but its a lot to manage on promotional rate credit cards.

Also on the council notes are discussions on the infamous "centre plan," it sounds like they're gonna promote making our city more dense and to facilitate an aging demographic by allowing in-law suites in R1 zoning.

So it may be wise for you to get yourself educated for a bit first and put the money into a low-risk liquidatable investment or savings account for now.Lastly, I swear BP isn’t paying me to promote this book, but I did recently buy and listen to the Audible version of the BP Publishing book by David Greene, Long-Distance Real Estate Investing: How to Buy, Rehab, and Manage Out-of-State Rental Properties, which you can find on the BP Store or Amazon.