The same applies to an IRA.

Even with today's interest rates, I'm still looking to apply the same strategy:Buy a cosmetic fixer upper with the potential to convert an existing space into an ADU (ex: detached garages) in a great area within <20 mins from a trauma 1 hospital.

The same laws and procedures apply.

Plus, it takes several years to break even on the closing cost and first few years of payments are mainly applied toward the interest and less to the principal.

You should apply this expression to your Secretary of State as well

The bonus deprecation rules apply here and it would be a conversation you would need to have with your accountant as to what the best course of action is.

@Daniel WindingstadRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

However, if guests want to bring 1-2 additional people beyond that limit, you can apply a flat fee or per-night charge.

Does that apply to my own personal property?

It applies to both W-2 income and other forms of active and passive income, meaning that the STR loophole allows you to leverage depreciation beyond just real estate activity.3.