When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

The PM company needs that information to complete your annual 1099 and their 1096 to report the gross rental revenues received on your behalf.  

Hello everyone,This is a few years off for me, but I was wondering when someone would decide that hiring a FT employee to manage a property (and potentially FT maintenance) would make sense?

I'm guessing though that since the IRA owner isn't allowed to take out a salary, perhaps the SDIRA LLC will be required to hire employees? 

The number of remote workers peaked in 2021, as a result of the pandemic.About a quarter of Austin workers are remote employees, according to the report.

If you make the person an LLC employee you can get around it, but partner does need to be careful. 

Of course, you can delegate most of these tasks to employees, but then you should also budget time for employee management, hiring, and training.

We're looking at 2024 gross around $187k with NOI at $107k.

As noted above, up to 50% of gross rental income normally gets eaten up by expenses (taxes, management fees, utilities, landscaping, repairs, capex, etc).

@Philip Beckwith, I disagree with some who think this should only be attempted for larger gross errors and also that you need to hire a company to do it.