Now I'll lurk on the site until I have something to contribute. 

Also if you're using conventional financing, you will need to wait at least 6 months from your purchase date to use a new appraised value for a new loan. 

To solve this, I built a custom mobile app to handle rent payments and due dates because no other management software can handle the payment schedules or turnover.

You cash flow with $50k homes with strong management with strong planning and you will make a lot more money then waiting for a guest to give you a ****** rating on STR sites.

Assets identified in this study include:Bathroom Fixtures: Bathtubs, vanities, showers and toiletsStructural Components: Drywall, wood framing and interior partitionsBuilding systems: water heater, electrical distribution, HVAC, plumbingInterior Construction: Wood flooring, stairs, ceramic tileSmoke detectorsThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

I’m not sharing it to criticize the site owner, but rather to highlight how small mistakes can cost you money when advertising on Google.

If needed, I am happy to provide builder and site resources. 

We're looking to renovate something before the end of the year to accomplish 2 things: 1) Improve home value so we can get appraisal, refinance and leverage that to buy a new property. 2) Take advantage of the tax credits that are out there in 2024 before the new year or is it better to wait until 2025 and just hold onto the cash I have at hand.Here is a list of renovations that will need to be done eventually:*Brand new basement kitchen (cabinets + add seating area - we already have brand new dishwasher, fridge, gas oven)*New standing shower in the basement bathroom*New Siding*AC/Furnace for unit 1 are close to end of life but still functioning*New Fence/landscaping*New Windows for the basement*New Garage (unstable, concrete shifting, very old)*Solar Panels on the roof (There is a $0 down payment lease option w/ sunrun, but I'm hesitant to move forward)*Renovate master bedroom closet for tenants (it is old & has built in entertainment center that is very dated)*Repair Catch basin*Adding better drainage system for back door.Greatly appreciate any help, insight or advice!

I drove past the site daily to get home in Calico Ridge.

You’d place in service with the total cost basis on the date on conversion to a STR.