When I look at the property and the information what I am noticing is the "game plan" is as follows:1.

A 10 to 15 year plan - slow and steady. 

I would be happy to help you explore first-time buyer programs and financing options to make your purchase smoother and set you up for your future rental plans.

Life is about as good as it gets here, which is why it has become expensive. 

Does Shiloh's rehab credit plan ring any bells to you?

Unfortunately, Covid decided to change my plans, and I made the decision to hold off, in hindsight it was a huge mistake and no one could have imagined that property values could have increased at such a high rate.

Didn't she have a plan when she bought it?

I and my spouse are planning on buying a small multifamily and house hack.

Recapture typically happens only when you sell the property.If you use the property partly for personal use and partly as a rental in a given year, depreciation and other expenses must be prorated based on the number of days it was rented versus personal useBased on the current tax laws and regulations, once you've taken bonus depreciation on an asset, you cannot "capture" additional bonus depreciation on that same asset in future years, even if the rates increase.In the 2024 tax year, the rate for bonus depreciation is 60%.

Hi David Oh-You asked about a profit sharing bonus for property managers to give them an ownership mindset and incentivize them to align with your goals for quality property management.I love this idea.While I do not have a formal profit sharing plan, I always like to recognize the property management company with gift cards to the operators and the people within the property management company I have regular contact with that help keep the property running well and keeping costs down.Related to this, a handwritten thank you card to the same people periodically goes a long way.I also like to do the same for the tenants that have been paying rent on time.To your success!