It allows a substantial portion of the asset's cost to be deducted in the first year of service.In 2023, the bonus depreciation rate is 80%.In 2024, it decreases to 60%.In 2025, the rate further reduces to 40%.COST SEGREGATION:Cost segregation involves dividing a property into its individual components for tax purposes.Some parts age faster, like carpets or paint.Your CPA can use this info to more accurately depreciate elements of your property leading to potential tax savings.BASIS:Your basis is the initial price that you paid for your property, including any expenses or improvements.Knowing your basis is crucial for tax purposes, as it's used to evaluate depreciation & determine the capital gains or losses if/when your property sells.LAND VALUE:This is how much your land is worth without any buildings or improvements.Land doesn't get old like buildings, so you can't depreciate it.

It can be a lot of work at times but its definitely not enough to live on because I don't put enough money back for the big stuff- things like say a new roof, new carpet, fence, painting building, HVAC repairs, etc.  

No carpet, disposals, only put up curtain rods, hard flooring only, use durable materials, always have cabinet pulls

They’ve been very responsive and seem to have done a great job screening and placing tenants, which took about 6 weeks (keep in mind I’ve not totally rehabbed the condo, older kitchen, bath and carpet), so renting out took a bit longer.

Assets identified in this study include:Appliances: Dishwashers, laundry machines and refrigeratorsElectrical and communication systems: Specialized equipmentCabinetry, Countertops and shelvingInterior Finishes: Laminate flooring, carpet, and decorative elements.Security and communication systems: computer connections, alarm systems and telephone connections60.8% of the total depreciable basis was classified as 39-year class life.

Carpet is damaged, couches were destroyed, and all other tenants are complaining of fleas. 

Turns out, during construction, one of our vendors flushed something down the toilet, causing a clog, which led to the system overflowing and flooding the home.We ended up having to cut and replace drywall in multiple rooms and swap out the wet carpet, which will cost us around $10K.Mishaps like this will happen in Real Estate.

If I am doing the security deposit I want to quickly see how old that carpet or paint is.

When the tenant moved in 2018 the entire home was new, molding, carpet, everything.

Somebody is getting married so slaughter a goat as part of the feast, in your apartment, your 2nd floor apartment, and then wash the gut's and gore into hallway via a hose tapped to kitchen faucet to "clean up", the CARPETED hallway, carpeted apartment......