Others 15 yrs, etc.So we depreciate a portion of the asset costs faster.We do the study and get dollar amounts assigned to different parts and different schedules to front-load depreciation.Now you can get 5 or 6% of the value as a deduction in the early years...But wait... there's more.Bonus depreciation allows you to deduct a certain percentage of cost in the first year an asset is put into service.Anything that is on a schedule of 15 years or less...So the doors, sidewalks, HVAC, walls, latches, curbs, security, gates, etcA % of this stuff goes in Yr 1.For years 2015 through 2017, first-year bonus depreciation for these items was set at 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019, 0% in 2020.But then the Tax Cuts and Jobs act moved this percentage to 100% from 2017 to 2022 and 80% in 2023 and 60% in 2024.Its not uncommon to allocate 30% of an asset cost to items that can be depreciated on a 15 year or faster time frame.So now 60% of that 30% of your asset's cost can be depreciated in the first year, excluding land.Pretty great.This is how real estate owners, investors, and operators make millions and pay very little in taxes compared to W2 employees.They pay even less and can offset other types of income if they are an RE Pro.

I am looking to build my portfolio for cash flow through MTRs and STRs - I run a STR management company as my job.

Unfortunately it was hard to find a contractor during the summer who would take on this "small" job (~$3k).

Nothing will crush your hopes and dreams quicker than if the people closest to you think investing in real estate is terrible.

Please know that I realize it is a huge job and huge learning curve and may very well not make good sense, but I want to do a thorough analysis  to determine that (and also what price it may make sense for).  

Hey Ian, there is an investor who can get the job done, the rates a bit higher though. 

I would not call this a DIY job, personally.

Partners with an experience home flipper to learn the risks and rewards of house flipping to build up some cash (This is considered a job, not real estate investing).4.

I think the long term fundamentals here are solid with job growth and population growth, it’s just a matter of the new supply getting absorbed which will take 2-3 years. 

Well because foreclosures, tax liens, job losses, all these people in these kinds of circumstances, do not want to sell their house, they want to keep their house.