When an owner replaces or retires certain items (e.g., lighting, HVAC, or carpeting), they can claim a deduction for the remaining undepreciated value of those items.

I'm specifically searching for an agent who:Has experience working with foreign investors (I’m not based in the US).Has been involved in buy-and-hold projects with investors multiple times.Can provide an approximate rehab cost by looking at pictures and is familiar with rehabs.Is willing to visit properties physically (I won’t ask you to check out too many).Has connections with wholesalers (a plus but not a dealbreaker).If this sounds like you—or if you know someone who fits the description—please reach out OR leave a message in I will get back to you. 

The deal sounded good at the beginning but thought it included his fee and it didn't so he's tacking on his 20% on every bill. 

@Kimberly PittmanWow, it sounds like you’re far from being a newbie—you’re a rockstar!

All you need is a 5% cash-on-cash return, which you can find in most markets. 5% of 4.6M = $230kSo it sounds like you can easily hit your goal.

Thanks tons and if this question sounds very immature, i'd say 'that's about right' given how new to this game we are.Thanks again!

While the guarantee of income sounds great, it's only a percentage of the rent, typically up to 70% and the tenant has to pay the remainder.

Good luck getting your asking price - sounds like a great project.Have you looked around to see what kind of inventory is available for your next purchase?

And buy 2 replacement properties.1.

Part of this sounds like a Schedule of Real Estate.