Use the enemy method and see what they are doing.

We ended up moving several times around Southern California  while growing up as my parents employed what we now call the BRRR method.  

Retirement planning is a journey filled with valuable lessons, and as a real estate investor, I’ve learned some crucial insights that I wish I had grasped earlier.

In 2024, it is 60%.You may also have an option of applying a different method (Section 179) that can give you 100% on some of the cost segregated components, but this has its own drawbacks and complications, so it needs to be discussed with your accountant beforehand.Also, have your accountant estimate your potential tax savings before ordering cost seg.

Congrats on taking this huge step in your RE investment journey!!

What a lot of people think:Bonus depreciation is only for new properties or acquisitions.The truth:You can retroactively apply bonus depreciation to property placed in service after September 27, 2017, when the Tax Cuts and Jobs Act passed changing various rules.The IRS allows you to claim missed depreciation deductions by adjusting your current year's tax return, without needing to amend the previous year's returns.This is typically done through a change in accounting method using IRS Form 3115.

Started my journey a year ago started doing some wholesaling and almost a quarter ago "moved" to Cleveland, OH to acquire the first property as an investor.

I want to start my REI journey but I wonder if house hacking would be the best option.At the moment I have about 30K ready to invest.

My investing journey literally started with properties falling into my lap pre-2013 so when I started hearing all these terms I was confused.

I wish you well in your investing journey.