So why this specific triplex? 

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator.So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

I'll see if I can track down a suitable NoD template that I can work with for those very specific instances.Thanks again,Steve

If you have specific questions about property management, I'll be happy to help!

But before we go through to put together something more specific on the property so he can see all the numbers.

Specifically, am I able to depreciate the square footage I couldn't claim depreciation on from 2023 for the 2024 tax year, given that I couldn’t claim depreciation for that period?

I do not seek these people out to talk about this specifically, but bring it up in casual conversation.

Because of this, I'm exploring what it would look like to begin investing in vacation rental real estate as a way to:1 - Save on taxes by taking depreciation2 - Hold long-term appreciating assets3 - Have properties where we enjoy vacationing that we can stay at when we go to do maintenance (probably 2 areas).What resources would you recommend for someone just starting out who has these specific goals?

Donate the Property: Donating the property to a qualified charitable organization can provide you with a charitable deduction equal to the property’s fair market value and eliminate capital gains taxes.Implementing these strategies requires careful planning and consideration of your specific financial situation.

Without a financial education - it's hard for him to discern which.What he should NOT do is to buy toys or spend it on fun because it'll quickly be gone.If he was financially savvy or versed in real estate - he could even buy a small apartment complex and self manage it if he had some property management skills.Advice should be catered to him specifically though, blanket advice isn't that helpful.