Two I often see discussed in these forums is 1% rule and the BRRRR method where 100% recoup of down payment funds and closing costs are the end goal and if one or both of these boxes aren’t checked the property is not considered.

It never really was a good method. 

It is no different than maintaining the electrical outlet for the W/D or the plumbing for the washer.  

I reviewed Form 8824 and after much research I generally feel comfortable completing the form as well as how to depreciate the carryover basis and additional (or excess) basis using either of the two allowable methods (general and simplified methods).  

Lindsey, you’re right there is a lot involved with house hacking out of state and I’ll be circling back to that particular method in the near future.

I want to invest in real estate by using the BRRRR method.

How much would it cost to build a 6 shipping container with only doing, insulation, wiring, plumbing, roof.

. $1,520.00•Demo about 12” of walls and rip out entire shower pan and step •Install cement board on exposed wall •Apply RedGuard and Waterproof membrane to shower pan and up the exposed walls •Install new drain adapter in shower floor •Install new tiles provided by client Optional (just in case fixing shower pan does not fix the water leak) rebuild shower. costs extra $5100•Demo shower • New plumbing for a new fixture •Install cement board on exposed wall •Apply RedGuard and Waterproof membrane to shower pan and up the exposed walls •Install new drain adapter in shower floor •Install new tiles provided by client •Client provides plumbing fixture

@Philip Muka have you explored/researched the "asset island" method? 

The property is 100 years old but has updated wiring, plumbing, and units.