On some deal I'm going in as LP I'm getting 70-85% back what I put in as year 1 bonus depreciation.

In the past when I can get much of a price reduction it is amazing what adding a $1000 broker bonus for a limited time does for the listing!

It has a bonus room that would be pretty easy to add a wall and door to make a 4th bedroom or office. 

Let me explain my situation, I work for 33k a year plus bonuses. 

When we got promoted or got a re-enlistment bonus, we'd set aside the extra money instead of spending it, and that would go for down-payments.We also bought newer houses so that renovation was not a concern to us, and then we used a property manager. 

Needing some feed back on a 2 bed 1 bath house, 1200 sqft with an added bonus room upstairs.

Planning on purchasing this property to live in at first, but it will become a rental property in eventually.The property also has a bonus room upstairs that is not a legal room due to ceiling height.Rent could be 695-725, but i tried to be conservative.Thanks for your feedback!

If instead I buy the same property for $8MM, then would that bonus depreciation then be $1.6MM?

The townhouse unit I like has 3 bedrooms, bonus room on first floor and also a rooftop deck facing camelback.

@Nick RutkowskiYou may want to consider a contractor agreement where the GC will get a bonus of ____% if completed quicker and under bid also a penalty for each delay and or cost overature excluding change orders