I have been on BP a long time and maybe about eight years ago , a person had a small chance of finding a posted house for sale here that can be flipped.

By year end I will tackle a MF, value add with my son that would be sweet if we can swing the coop/tic (handling the finance challenges is the hurdle) so he ends up with a unit at below 50% of retail.  

Hello everyone, we know this post is a few months old now, however we are interested in the Ocala, FL market as well, primarily looking at LTR SFHs in the Silver Spring Shores, Heath Brook, or Marion Oaks neighborhoods.

You have a number of issues in your post unfortunately.

We did give 50k deposit up front which he says he will use towards finishing up.

Congrats and knock out that extra debt you accumulated so you can save up for STR #2!

Form 3115 allows you to restore the fairness in this situation and "catch up" with the remaining $30k of depreciation that you failed to take in the years past.

Their entire business plan is wait a few days to come out, charge  deductible, go back to the office to order a part or two that will come in a day or two.

this is the best of both worlds.

I have no experience with this group but just visited their website.