Warning:If you depreciate a property down near zero and then have to sell your property at a loss during a situation of distress...You could end up giving all the proceeds to the bank AND owe the IRS a big chunk of money for recapture.Long-term tax planning with real estate needs to be coupled with risk management and making sure you don't lose any properties.

Quote from @Dave Bobka: Excited to be joining this community!

They were easy to work with and no surprises.

Your financial background is a huge asset, and it’s great that you’re starting locally in Milwaukee while keeping an eye on future expansion.If you’re looking to connect with like-minded investors, the Rental Property Association of Wisconsin is a fantastic resource for networking with rental portfolio owners, accessing legal resources, and finding contractors. https://www.aasew.org/For mentors, funding sources, and flippers, the Milwaukee REIA is another great group to explore. https://www.milwaukeereia.com/I’m a member of both and find unique value in each—maybe we’ll cross paths at a future meeting!

@Brent Richardson, welcome to BP and the forums.

Live in Florida but own properties in NY.  

Working this backwards, what I see is a 3rd party trying to benefit from another’s house via rental cashflow, My only business is 30+ years as probate estate and trust lending in CA.

I am a new real-estate investor looking at flipping properties in a higher end neighborhood.

@Karl Markarian Welcome to the community!! 

I have been able to scale up to 12 doors in 2 years so definitely recommend this area.