Additionally, interest-bearing accounts may be mandated in certain jurisdictions, so it's important to check local regulations to ensure you're handling deposits correctly.

However, there are risks, such as stricter lender requirements on the use and location of the property, and lenders may require you to prove that it is used primarily for personal vacations (not exclusively as a rental).Additionally, using it for short-term rentals could lead to changes in loan terms, and some lenders may not approve if they suspect the property is being rented out frequently.

In addition to checking the loan docs you should also check the zoning in this property.

Recapture typically happens only when you sell the property.If you use the property partly for personal use and partly as a rental in a given year, depreciation and other expenses must be prorated based on the number of days it was rented versus personal useBased on the current tax laws and regulations, once you've taken bonus depreciation on an asset, you cannot "capture" additional bonus depreciation on that same asset in future years, even if the rates increase.In the 2024 tax year, the rate for bonus depreciation is 60%.

For example, I see newer investors attempting wholesaling or bird-dogging for other investors to generate additional income to invest.

This is an additional step that would not be present for developing a lot where you are adding value.  

We also expanding into additional markets as we determine the co-living demand in a market to be close to saturated.

Additionally I would suggest having the long term financing relationship built so that they can easily transition the deal after renovation. 

I wonder if an inspector's license might be another good addition to our repository.

In addition to that, building your network is key.