Here’s what I’m considering:I plan to call the mortgage company tomorrow to explore any assistance options they might offer.Should I look into selling the property?

Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.

a month on a 5 year plan.. 

Quote from @Justin Hammerle: @Thomas Lebens - if this is your first property and you plan to occupy why not consider an FHA?   

One of the cool connections I've made is with someone that has over a million subscribers to his YouTube channel that is now working with me to take my channel to the next level.Proverbs 15:22 teaches, "Plans fail for lack of counsel, but with many advisers they succeed."

My developer client successfully defended the initial challenges and settled on this having PE rights, so he shifted the site plan to avoid the issue.

@Sara Donohue I don't recommend buying land if there's not an actionable plan whereby the buyer can build.

What do you plan on doing with the puppies (once they are old enough to rehome-ie 6-8 weeks old)? 

I have had permits in other jurisdictions be quite easy.My view is I would let someone familiar with the process do it unless you were planning on applying for many permits over time.  

Lilia’s breakdown of what to consider before investing is something I wish I’d read when I started.To add some color, I had a client a few years ago who purchased a duplex in Austin with a plan to hold for 12+ years.