Please feel free to use code VENI324 when upgrading to get your investing career going!

To get a great bang for your buck when it comes to appraisals, you'll want to focus on making cost-effective upgrades and improvements that will have a big impact on the overall value of the property.

With strategic upgrades and modernization efforts, these properties can be transformed into sought-after residences, thereby increasing their value and rental potential.LOCATION, LOCATION, LOCATION – These Condos are often in prime locations in established neighborhoods, providing a sense of authenticity and charm that appeals to both residents and tourists.

However, based on our conversation, this strategy might unnecessarily complicate things.As a 1099 contractor, can I deduct all upfront expenses for the STR upgrade, as I did with my San Diego property?

Please feel free to use code VENI324 when upgrading to get your investing career going!

Making capital upgrades, such as painting, cabinetry, flooring, or countertops allow you to charge higher monthly rent because the unit looks nicer and is "newer" while also not be immediately expensed as they are depreciated items (talk to your CPA or hire a good one).

I would just focus on $800/mo. rent and tight cashflow in negotiation with the Seller and especially considering that to get that higher rent you will need to undergo and pay for some upgrades and then.... just buy it.

I would only do repairs, not upgrades for a tenant.Just make sure everything is clean and on good working order.

Please feel free to use code VENI324 when upgrading to get your investing career going!

It's a good move to keep things separate – set up a business checking account for your rental income and expenses, and maybe a savings account for unexpected stuff or future upgrades.