We have figured one house per year should get us close, depending on the cash flow obviously.

@Minji KimRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which is VERY important for stable rental income and low property maintenance/damage.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

However, we need to figure out the first one first.5.

I was actually having a hard time trying to figure out the procedure. 

Or are you ok with looking at the replacement property, and if it's higher value and appears to likely have more value in both 1245 and 1250 property, do you figure there is reasonable basis to assume there isn't any recapture? 

As I run my STR mgmt business, I figured I'd simplify and share my company's comprehensive list of daily tasks that we believe deliver the best results:1.

Usually people use the enemy method to figure out the worth of the investment.

I figured seeking advise on this BP forum would give me an opportunity to consult with like minded investors...

Quote from @Patrick Shep: if you’re figuring out the land value for depreciation purposes, can I use the Fair market value for the land? 

@Priyanka Shah Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?