In US tax law, the depreciable lifespan of an asset is defined by its MACRS classification which stands for “Modified Accelerated Cost Recovery System.”Under MACRS, depreciable assets are assigned to different classes, with each class having a specific recovery period.

While they’re out partying, you’ll be home learning, analyzing deals, and honing your craft.

Based on your description, Party 1 seems like the safer choice.

This lets both parties separate rather than dragging out the relationship.

Most rental properties in Milwaukee are old and run down, our product stands out. 

If you have equity and decent credit, a conventional Fannie Mae HomeStyle (or the Freddie Mac version) would likely be the better option instead of an FHA 203k loan (which will require a 3rd party HUD consultant to oversee the deal in addition to having the contractor involved). 

But I just want to start the conversation so we can negotiate the terms so it's beneficial for both parties.

I agree with Collin.The Smokies do have a lot of competition, so you need to have a view, decent location, good to great amenities etc to stand out.We have a 6-bedroom cabin there, but I imagine a 3 to 4 bedroom would be in the sweet spot of not too big or not too small.

You can't really predict for a creative business mind and how they might craft a guest experience that stands out in their market. 

This acronym stands for Buy, Rehab, Rent, Refinance, and Repeat.