Someone I know bought a ranch to use as a short term rental property in 2021 for $1.7 million.Engineers did a virtual site visit, they were able to assign a value of $347,000 to either 5-7-15 year assets that were eligible for depreciation.In 2021, the bonus depreciation amount that you could take was 100%.This means that the owner could immediately deduct the full amount of eligible property in the year it was placed in service, rather than depreciating it over time.With that in mind, he took the full $347K deduction in his FIRST YEAR of ownership to offset taxable income from rentals.This was roughly ~20% of his purchase price.It was a big win for him.In 2024, the bonus depreciation rate is 60% so the calculation would be different.That said, you can still save and defer a ton.

One recent property I bought the listing agent disclosed that it needed new sewer lines.

Quote from @Renee LeFevre: We just bought a townhome in Woodbridge, Virginia.

For ballpark numbers, we bought the home for $850k ($715k left on the mortgage), and once the renovation is complete we'd be looking to sell for about $1.5M.  

When I started buying places as rentals, I also bought a newer condo and it's done well, but still struggles to cash flow (in part due to a long term renter and rent caps, but also increases in condo fees) while a house I bought at the same time has had higher turn over (allowing me to increase rent to market value) but does cash flow nicely. 

Hi, I bought my first commercial NNN property in South Carolina in 2023.

Here's a bit of background:I have over ten years of experience in real estate.I've bought and sold hundreds of properties in the past two years.I have six performing rental properties and aim to expand this to 50 by the end of the year.

Purchase price: $365,000 Cash invested: $550,000 Bought and renoed a 1965 house into a modern farm house.

Purchase price: $430,000 Cash invested: $85,000I bought the property partially renovated on the interior, then proceeded to do updates to increase value.

They have no clue what they bought...they're just thinking, wow I can buy a lot for X.