Lots of nuggets on there but not all episodes focus on REI.That said, Long Island is super competitive but your down payment could land you a deal.This week, we went under contract for a multifamily in Lynbrook and the investor put down just $65K.

Units are in good shape otherwise, besides those cosmetic/outdated issues.Thanks for any input you all can provide!

Quote from @Ashton Rodgers: The last four years I've been successfully flipping land.

I did a walk through this weekend and the house is in bad shape.

Here are a few definitions that you absolutely must know.Bookmark this thread and use it as your cheat sheet for 2024.Okay, let’s dive in:Here are the terms that I’ll define in this thread:-DEPRECIATION-BONUS DEPRECIATION-COST SEGREGATION -BASIS-LAND VALUE-IMPROVEMENT VALUE-3115-RECAPTUREDEPRECIATION:Depreciation is the decrease in $$ value of your asset over time due to wear & tear, etc.Standard depreciation is deducted evenly over 27.5 years for residential and 39 years for commercial.Even w/o cost segregation you get to deduct depreciation each year.BONUS DEPRECIATION:This is an accelerated depreciation method.

And super low inventory means no discounts, even for properties in rough shape.

In many cases, investors own the land but not the homes themselves.

Also keep in mind the basis to deprecate will likely be lower as land value would need to be considered 

Your costs to build are too high even if you're getting the land for free.   

like land trust, LLC, and high level of what is recommended in RE?