The midwest would fall into the former and places like California and Florida, the latter. 

This falls under section 6.01 of that revenue procedures each year, the most recently applicable would be Rev Proc 2024-23, but the same language has been floating around in this annual Rev Proc for closing in on 10 years - note there are various caveats so this isn't a blanket statement on all changes related to depreciation expense changing in the second year.Before this, the mindset has been that one was required to amend, given except for this language, per the IRS one has only adopted an accounting method if they have used that method for at least 2 years. 

I’ve been a Realtor in the Idaho Falls area for the past 8 years and our market has appreciated significantly during that time.

Lease option is my fall back.

Dont sleep on waterloo Cedar Falls

One thing they had a penalty of "$100 per diem" if the contract falls out because of failure to finance.

I am hoping this post will help those interested in the BRRRR investment strategy avoid this common trap. From what I consistently observe, the ability to complete the BRRRR investment strategy and recapitalize onesel...

Get with a Chicago-based real estate attorney that understands the RTLO and see if you fall under any of the exclusions.

The LTR rents are pathetic compared to current values, but maybe if STRs get banned the prices would fall.  

Ugh, tiny houses fall into this tiny crack where they are disqualified from pretty much everything.