If you had identified the property, the cost and the travel cost would have been added to the basis of the property and depreciated.These initial investigatory costs are treated differently for flipping and rentals.1) Flipping: The travel cost to investigate will be treated as a business cost and deducted as an ordinary travel cost.

What drew me to Detroit initially was the potential for strong cash flow, but I’ve also seen appreciation in several of my properties as the city continues to improve.

Just like in Southern Italy, where houses are sold for as little as one euro, similar initiatives exist in Spain to attract people to repopulate villages and revitalize these areas." the one part I'd disagree with is "many".So why was I shocked then?

(Littleton and Colorado Springs, for instance, initially had laws allowing Airbnb and then revoked those laws but grandfathered in existing permits.)

My initial interest in out-of-state investing stems from the high cost of multifamily properties in New York and the state’s renter-friendly laws.

Real numbers- purchase 907k,rehab , closing costs, soft costs, 840k, all in 1.747 mil, basis for each unit should be roughly 291kappraisal of each unit minimum 400k , so 2.4 mil if for all 6.I might refi only 4 out of 6, that will cover initial loan amount.

My initial goal was to net $150-$200 per door after ALL expenses.

.: Quote from @William Woodring: Update on my postAs pointed out, the initial terms on my contract in Oct 2021 were beyond industry standards.

Despite the initial low purchase price, our strategic investment and fast turnaround led to a strong profit, demonstrating the success of our collaborative effort with Amanda Frecks.

I'd be able to put 20% down on each and have money left over for some repairs/updates.It seems like I'd initially take on more stress, less initial return but the long term scalability seems great.