@Eric Winkler Can you provide any assistance to us?

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Alternatively, construction loans can provide staged funding for significant renovations but require more documentation.If you’re holding the property long-term, consider refinancing into a DSCR loan after renovations.

Thank you for commenting and providing your insight on these facts.

However, our goal is to help 100k investors obtain financial freedom - hence the reasons why we provide many videos, podcasts, programs, and services to help with this journey.Unfortunately, we cannot promise that every deal we help you get under contract will close.

We are not real estate professionals.1) How would you handle the classification of the property in the 2023 tax year and would you utilize a STR depreciation strategy?

This may provide low cash flow up front but it is a way of scaling if you are good at adding value and then trading up that value.

I will not comment as to the tax laws and underlying rules - that is a discussion you can have with your tax advisor who presumably you are paying to help you.What I will do is provide practical and business guidance on tracking time.Firstly, there are apps available that can assist with time tracking where you can specifically detail your time, who you met with, etc.

With some changes to the management structure and leadership, I believe we can significantly increase the revenue potential while providing a positive impact.

This way, your current rental stays a cash-flowing asset while providing leverage to grow your portfolio.