Thank you so much for the valuable insights!

Your starting depreciable basis should have been the LOWER of what you paid or the FMV in 2010 when you converted it to a condo. 

Hey Connor, welcome to the club!

Although I know most sec 8 landlords use it because of the perception of guaranteed rents.As a small home builder I really dont know how they are going to lower the cost of new construction housing unless the govmit subsidizes it somehow.. basically the price of home components are very sticky they only go up. with the xception of lumber that will go  up and down through out the year..

We bought a 55-unit last year in the same market, a market we've been investing in for seven years.How we found itOur property manager brought us this opportunity (and the three previous as well).

Let's re-visit this post next year and see.

Unless you have a clause in the purchase of the entity that clearly makes you responsible for the entity from the day that you buy it(Indemnification) I wouldn't bother with the LLC.Good luck man. all the best!

Flat is easiest, eggshell next easiest as far as sheen.

@Hank Bank BRRRR is probably want you want to do.Buy, Renovate, Rent, Refi, Repeat.Before you go all in and either find out you don't like being a landlord or you make costly mistakes, start with just the next one.You'll have some challenges with tapping the equity in the townhouse:1) What loan amount can you qualify with your credit & income?

. :) Wishing you the best in your business.