Whats amazing is that there is no more than $180 in materials for this fireplace that will transform the focal point of this living room into this decade! 

If instead I buy the same property for $8MM, then would that bonus depreciation then be $1.6MM?

The townhouse unit I like has 3 bedrooms, bonus room on first floor and also a rooftop deck facing camelback.

This is area is transforming at break-neck speed, and this home is in a quiet neighborhood across from an elementary school.

@Nick RutkowskiYou may want to consider a contractor agreement where the GC will get a bonus of ____% if completed quicker and under bid also a penalty for each delay and or cost overature excluding change orders

Cost segregation combined with bonus depreciation is huge.A lot easier to 1031 one 100 unit property than 100 individual houses.Apartment rehab often stays below the $2500 de minimis safe harbor per item (because apartment communities don't pay retail) - which means immediate deduction and no future depreciation recapture (i.e. an HVAC replacement may only cost $2400).Some apartment rehab above $2500 per item can be immediately deducted if it does not meet the 20% "unit of property" rules (i.e. replace one HVAC system in a ten unit building).

Always challenge the property taxes.Cash flow is not the only benefit.Tenant is paying your mortgage and paying down your principleTax write off on property taxes and mortgage interestSome appreciation in property value but I do not count on it, it’s a bonus when it happens.  

A lot of banks have introductory rates for HELOCs that they use as a loss leader for the branch and you can shop around for the lowest rate or any bonuses they have because its the cheapest money you can borrow.Once you have that line of credit, rather than utilizing it as collateral for downpayments on leveraged properties, I would use it to leverage the strength of cash offers on distressed properties ideally to motivated sellers that allow you better access to good deals compared to those with financing contingencies.

A few that come to mind:Since you say the second building is an added bonus, try to find more long term, higher paying tenants (but that should be a no-brainer).

You will not get any credit for overtime pay, commission, or bonuses for the first 2 years at your employer so I would not recommend starting at a job where the majority of the pay comes from any of these sources.As for job history, Johnna mentioned 3 years work experience.