Finally, consult with a CPA and have them review your situation, plus ask for a recommendation on whether to do a cost seg and which cost seg company they recommend.For a property placed in service in 2024, 60% of the value of personal property and land improvements identified in the cost seg will be bonus depreciated in the first year. 

Careful timing and classification as either improvements or repairs can increase your deductions.Bonus DepreciationUtilizing this strategy, you are allowed to deduct a portion of the cost of certain qualifying assets with useful lives of less than 20 years in the year that you place them into service.

I have grown my AirBnb's into a handful Guest Favorites and rank in the top 5% and I'm always improving.

@Kent Depwe Indianapolis has a lot of Sec 8 opportunities if your stomach can handle it.

Quote from @Daniel Rabinov: I’m new to REI currently looking to acquire multifamily properties in the North Miami Beach, Aventura, and Hollywood areas that meet the following criteria:Price per Unit: Maximum $250,000 (4 PLEX MAX 1M)Cap Rate: 7.5% or higher as-is not pro formaValue-Add Potential: Properties that offer the opportunity to renovate, improve, and increase rents or overall property value.My focus is on underperforming properties with strong fundamentals that are located in these markets.

Look for areas with planned infrastructure improvements or new business development—these are signs of future growth.4.

I'm working on improving credit before then as well.

I have slowly worked on improving management to increase cash flow from $0 to ~$800/month currently.

For example, I want to know the cost needed to do a basic improvement (for a rental), a medium level improvement (live there) or a luxury rehab (use it as an airbnb).

If you are a licensed contractor for instance and capable of major remodeling projects as your trade, this would be considered adding value to the property and would risk IRS action.Sounds like "improving" or "upgrading" the place is not allowed.