You are just starting and with no reviews, it will take some time.

Assets identified in this study include:Standard windows and doorsInterior ceilings and wallsBasic plumbing and electrical systemsBuilding structural elementsBasic HVAC componentsThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

You can review your HOA's governing documents, also known as the CC&Rs, to understand the proper procedures.

But ultimately the responsibility lies in my hands.I jumped on a seesaw of risk hoping that the momentum would catapult my bank account into six figures only to find out the hard way that flipping houses isn’t as easy as I had predicted.This house was purchased for $64,000 with an expected rehab of $100k to $120k depending on how much work the dilapidated and neglected house needed.The midwest is lovely but the houses carry the weight of weather storms nearly a century old leading to more damage than a beginning investor could expect.The appraisal came in at $225k for my lender meaning our all-in cost would be around 85% of the sales price worst case.

So I steer clear of them and instruct my team to pass those people along to me to handle.I also have nothing more than my word and all of our 80+ all 5 star reviews. 

And company VP gave good employment reference review from company email ID.

Here's how a seeming tax disaster turned into a strategic triumph.Picture this: You're sitting with your CPA, reviewing the sale of your residential rental property.

Sorry for the tough love, but not buying the above.You & your wife's salaries should cover your expenses, while the income from your remodeling gigs should be saved.Recommend you review EVERY dollar you made and what you spent it on in 2024.

What I think you'll need to find out from lenders/banks/credit unions is how much historical timeline they'll need to review to support the valuation/income.

@Timothy Hero community banks and credit unions are the OG DSCR lenders.