I’m seeing that some investors advocate for higher end materials when you can-granite counters, stainless steel appliances, tile bathroom.

Because all these new construction homes were either started or finished during high inflationary times in regards to both materials and general real estate.

Because of material participation I can deduct that $350k vs other income.Using combined federal and state tax rate of 40% x $350k = $140k in immediate tax savings.

My guess is materials from stores like Home Depot or Lowes.

One option is you can use a DSCR loan and pull out 75% of the appraised value, you get to retain the asset and you should be able to cash-flow a couple of hundred bucks a month. 

I self manage, have material participation status and file on a schedule C.

The number one thing I tell fellow investors is that in the city proper you will deal with 36th district court and that has a material impact on the speed with which the court process will proceed if you need to evict. 

There are still materials and maybe some other specific trades, which you and your sons may not be able to do.* Ask that same real estate professional above, if it is worth doing the rehab, if you decide to sell?

tougher than advertised. there is lots of competition for deals; good contractors are booked up; materials are expensive; and interest rates are high.

When looking for a PM, consider these criteria:1) the experience and credentials of the broker who supervises the company as well as the lead property manager2) the services they offer and how they line up with your needs and expectations3) the use of technology to make their job and yours easier 4) if they have a landlord-tenant attorney on retainer to help guide them on legal issues (not to mention the creation of lease agreement, landlord forms and notices, etc.)5) their process and policy for a) listing, b) application, c) tenant selection, d) routine inspections, e) maintenance services, f) property and tenancy update reports to you, g) lease enforcement policy, and f) move-out process.6) property owner reviews (caution: you can't always rely on Google reviews, because they may not reflect actual quality of the company, but still) 7) beneficial programs for both owner and tenant 8) a property management agreement that would indicate they know what they're doing and have the experience to know what matters in a PMA.