For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

The learning curve has been step but I have lots of tips for someone trying to do something similar!

For that they want a local specialist and not a computer because it's an emotional decision for them.

In terms of timeline, don't plan for it to be a fast process, your rockstar local loan officer will not be processing the assumption, it'll be a group of call center people reading scripts from a computer screen.

For the owners who were prepared to get the home in tip top shape have little disturbance in cash flow. 

Meet with local agents, investors, and mentors for tips and possible deals.

Thanks for the tip

Quote from @Sushma Annaiah: As of now started looking at sfh and looking for cash flow .i will be taking mortgage and also planning to go with property management SFH + cash flow + property management will not compute in many areas right now, especially if you want something that is in great shape with no cap ex.

Happy to share learned lessons and provide some tips.

Could anyone suggest helpful tips to get my first property?