I've created a 6 months to property schedule for myself and today's task are to use BP forums to ID Pros in my area, read from the book "ABCs of REI", and write about how REI aligns with my life goals so I can check the first one off the list.

I would do these to current code standards, and other smaller alterations all to code, without gaining permits.

I concur 100% that it is an underutilized resource with it numerous benefits compared to, “civilian, conventional loans.” 

On the other hand, I have bought numerous properties from absentee owners that paid cash for their investment property here.

@Solen Kebede Listen to this weeks A Better Life Podcast by Brandon Turner.

Hire a great professional property manager and enjoy your life.

@Luke Bricca Yesss...my heart is really in renovating and giving houses a new life (did that with my own house pretty much) but alas I live in the Bay Area so there is nothing I can afford here....or anywhere nearby really... plus a small kid (so travel is hard), so hard to travel frequently and supervise a contractor, etc. 

I think this is a great "real life" example to share and get other opinions.

The IRS considers fence replacements as improvements that extend the life or value of the property, even if it’s replacing an old, damaged fence.The depreciation period for a fence on a rental property is 15 years under the Modified Accelerated Cost Recovery System (MACRS).

Impressive Rent-to-Price Ratios: Average rents for 3-bed homes are about $800-$900/month, potentially yielding 12-15% gross returns.Economic Transition: While historically industrial, Bay City is diversifying into healthcare, education, and service sectors.Revitalization Efforts: Downtown redevelopment and community initiatives are breathing new life into the city.Strong Cash Flow Potential: Low property taxes and insurance costs contribute to robust monthly cash flows.Let's crunch some numbers on a hypothetical deal:Purchase Price: $75,000Down Payment (20%): $15,000Mortgage (4.5% interest, 30-year fixed): $304/monthProperty Tax: $100/monthInsurance: $60/monthEstimated Repairs/CapEx: $100/monthProperty Management (10%): $85/monthTotal Monthly Expenses: $649Potential Rent: $850/monthEstimated Monthly Cash Flow: $201Cash-on-Cash Return: About 16.08% (not including appreciation or tax benefits)These are rough estimates, and individual properties will vary.