Here is a newly created resource on BiggerPockets, which touches out cost segregation, accelerated depreciation, bonus depreciation, depreciation recapture, Real Estate Professional Status (REPS), STR Loophole / STR Strategy, example properties, and more. 

Phoenix contains a rare combination of elements that have created an outstanding market for distressed property investments, including the following:Cost Savings: Distressed properties are sold below their market value and enable investors to take hold of properties at a trifle compared to traditionally listed properties.Strong Market Fundamentals: Being among the fastest-growing cities in the country, Phoenix ensures a high demand in housing and rentals, hence good potential for resale or income from rentals.Value Creation Opportunities: Most distressed properties need renovations; thus, such situations present opportunities for investors to increase equity by adding value.Population and Economic Growth: Phoenix remains among those cities in the country which are attracting more and more residents and business; therefore, this presents good, long-term appreciation possibilities of property appreciation and income creation.Challenges to ConsiderWhile the rewards can be great, distressed property investment is not without its challenges.

In the unlikely event that you are the exception that proves the rule, the rare 18 year old who can actually generate a serious income by wholesaling real estate, your day to day will look like the following: - You will door knock, cold call, send mailers, and otherwise create lists of people who are in the most desperate moments of their lives. 

Here is a newly created resource on BiggerPockets, which touches out cost segregation, accelerated depreciation, bonus depreciation, depreciation recapture, Real Estate Professional Status (REPS), STR Loophole / STR Strategy, example properties, and more.Cost Segregation 101 Author: Sean GrahamHappy to answer questions :)

Since I don't have the experience that I aspire to have yet, I'm looking to create a relationship with some guidance without being taken advantage of.

You also wouldn't want to create a cloud on the title, so doubling down and working with a legal professional/attorney would be best advised. 

The best investors create opportunities, not just chase them. 

Rent goats to clear woods and create romantic lit walking pathRefinish floorsAdd modern master bathroomNew deck and firepit hangout area with hot tub and outside barand....STYLE!

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If a situation arises where landlord and tenant end up suing each other or both being named in a lawsuit, and we're on the same insurance policy together, that seems to create more problems than it solves.