In addition to the rates, material and labor cost remain very high.

Any suggestions on how to structure the will with specific provisions to allow my stepfather to remain after her death?

Luckily bank agreed to make repairs needed to pass four point.I had to get a renovation loan insurance policy where I paid for a year up front in escrow and they would pull $400 a month till renovations were completed and then I could find a new insurance policy and the remaining escrow would be transferred to the new policy.Paid $540 for an appraisal.

Thank you for asking for clarification - I would be financing the remaining balance.

Option 1: Separate SchedulesCarryover: Continue depreciating the remaining cost basis from the relinquished property over its original depreciation schedule (e.g., 17.5 years remaining for residential property).New Schedule: Simultaneously, start a new depreciation schedule for the additional cost basis attributed to the replacement property, following standard timeframes (27.5 years for residential, 39 years for commercial).Option 2: Treat as New AssetCombined Basis: Treat the entire cost basis of the replacement property (carried-over basis + additional funds invested) as if it were a newly acquired asset.Single Schedule: Depreciate the total cost basis over the standard timeframe for the replacement property type (27.5 years for residential or 39 years for commercial).If you choose option #2, you need to file an additional form (4652) with your tax return. 

Here's why the market hasn't crashed and where the potential for investment lies.The Unyielding Demand for HousingOne of the cornerstone reasons the real estate market has remained buoyant is the unwavering demand for housing.

Or will I lose access and get a refund for the remaining year? 

Mortgage interest rates will remain elevated for a longer time period and I am estimating we won’t be back to an attractive rate - below 6%, where folks storm back to the market and feel comfortable leaving their home w/ a low interest rate mortgage - until the 2nd or 3rd quarter 2025.

First thing I would look at is looking into markets that are expanding or have remained stable for an extended period of time.

I think it's important that new investors who have been listening to podcasts from years ago reset their expectations as to what is possible.House hacking remains the single best way for a new investor to get started.