When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

Hello Mike, Syracuse and surrounding area is benefitting from an influx of tech companies and a huge chip manufacturing company, Micron, which is building a $100 billion fab over the next 20 years. 

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Keep building on your success, and your story will continue to inspire others!

You could be overinsured on the building and lose money on not enough Personal property coverage.B. 

My goal is to build a comprehensive resource that not only answers key questions but also provides clarity on the entire process.The draft is based on my personal experiences working with clients, but I want to ensure it reflects the broader community's insights.

I feel a loss of direction and that makes it really hard for me to focus and build.Do we keep at building a portfolio of small multi family (very abundant in my market, very rare to find anything above a triplex for sale), with plans of selling the portfolio and 1031'ing into larger properties? 

Not sure if you staged it, but I did my homework early on when I first started so I know my pricing and I build it into my deals.  

Either way, best of luck building your portfolio!

while I totally understand the frustration especially purchasing what was supposed to be a new and ready to go asset, but these things are pretty common so don't feel to discouraged.