If you wait until it’s a rental, you might be able to depreciate the remodel costs over time, which could be a great tax benefit. 

As you move up the scale to higher prices, you get more benefits/services.  

You’ll find more details on how these federal tax benefits work here."

I can relate to that comeback feeling – when I first dove into real estate, I came from a similar background in military leadership and project management.

This log should include:•The date of activity•The property worked on•Specific activities performedExamples of activities that typically count include approving tenants, setting lease terms, handling repairs, and other hands-on operational tasks directly related to managing the property.

We use DealCheck to underwire and QuickBooks Online for everything related to accounting and numbers.

I would have assumed that's relatively universal if I hadn't started reading up.

Understand Proposition 13 for property tax benefits, local transfer taxes, and strict tenant and rent control laws.

If you're comfortable taking on more effort for bigger rewards, BRRRR might be the way to go.From a tax perspective, BRRRR may be better because you can potentially benefit from accelerated depreciation on the property, which can help reduce your taxable income and give you a bigger tax advantage compared to a turnkey property.

If family lives in the main home and friends stay for free in the garage, the property remains a primary residence, but there’s no rental income or tax benefits.