We just gave our tenants notice that we are planning to move into the rental they are leasing from us.  

Platforms like Procore, JobTread, Buildertrend, and FlipperForce have caught my eye, but I want to make sure I’m considering the best fit for my needs.Here’s what I’m looking for in a solution:Cost Estimation: A tool that accurately calculates material and labor costs.Project Oversight: Features to manage tasks, schedules, and budgets efficiently from start to finish.Vendor Integration: Real-time updates on pricing and inventory from suppliers like Home Depot or other suppliers.Material Suggestions: Automation or recommendations based on the rehab’s scope and specifications.Labor Planning: Tools to predict labor hours and staffing requirements for each phase of the project.For those of you who’ve used any of these platforms (or others), I’d love to hear your thoughts:Which software have you found most effective and why?

It became your strategic advantage.The Moral of the Story:Sometimes in tax planning, what looks like a lemon can make premium lemonade.

Luckily this was all accounted for in my budget, but it was still a slow and expensive process. 

That leaves $400 to cover taxes, maintenance, vacancies, etc.Now, let's pretend ALL your expenses come to $2,600 and you have $400 left over.

I live in Fl. where insurance is pretty costly but I am also investing in states where insurance seems less expensive.

A potential goldmine for those seeking to increase property value and generate rental income.However, navigating this opportunity requires strategic planning.

Assets identified in this study include:Standard windows and doorsInterior ceilings and wallsBasic plumbing and electrical systemsBuilding structural elementsBasic HVAC componentsThis 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've torn one down and I've prepped another for demolition, but tearing down houses is crazy expensive.

400k is so expensive for such a small home.