Better quality product, better installation, and making relationships is invaluable if you plan to scale.

I feel I am ready to invest again, maybe doing a BRrr method with cash out refinance or perhaps a flip.

It's a very desirable area, and it's a good property, but I think a few quality of life things are holding it back.

They want quality work , cheap price and done quick . 

Hi Patty - it depends on type of accounting method you use. if you are using cash method accounting, you can capitalize and claim in 2024.If you follow accrual basis, you record in a year when service is completed.Hope it clarifies.

@Alex Lickenbrock If your young family needs schools and you don't want to pay for private, you may want to consider the suburbs (and there is a range of school/suburb quality as well). 

Good afternoon allJust for general discussion.....and I know there is a lot of information not given....I was discussing with several colleagues at a recent investor meet up, on their thoughts on best practice/method to acquire another property management company in our geographic location.We were approached by another management company who's owner wanted to retire and presented us with an offer.Original discussions with the other management company(seller) had them wanting a one time payout, say $100,000.

That might sound good, but keep in mind that quantity doesn’t always equal quality.

Quote from @Sally Alcala: First, this is what happens when you deal with a low-quality property manager.

Here are a few definitions that you absolutely must know.Bookmark this thread and use it as your cheat sheet for 2024.Okay, let’s dive in:Here are the terms that I’ll define in this thread:-DEPRECIATION-BONUS DEPRECIATION-COST SEGREGATION -BASIS-LAND VALUE-IMPROVEMENT VALUE-3115-RECAPTUREDEPRECIATION:Depreciation is the decrease in $$ value of your asset over time due to wear & tear, etc.Standard depreciation is deducted evenly over 27.5 years for residential and 39 years for commercial.Even w/o cost segregation you get to deduct depreciation each year.BONUS DEPRECIATION:This is an accelerated depreciation method.