Hi everyone,There are couple of ways to value the price of land in depreciation, such as the 80/20 (20% to land) and Using Property Tax assessor's values, or getting an assessment of recently sold lots in the area.I was discussing this with one of the CPAs, and he shared that if the cost of building the house is more than the purchase price, then the land is essentially of no value. 

The difference between my approach and other approaches recommended in this thread is my approach is based on appraisal principles and sound business practices, not gimmicks like some people are recommending.

Their advice might be quite helpful to you when you make your first investment.Note that doing extensive research is essential when investing in real estate.

If a home costs 100,000 and you put down 20%, and for simplicity the expenses are 50% of rent, let’s say renting at 1500 (which is solid), and a fixed rate mortgage at 5% for 30 years comes out to 430 a month for principle and interest.

I would suggest following up with the PM and ask if they have proactively provided change of management details (essentially, letting the tenants know that new owner effective 03/29/2024 and were rents should be sent).

But this outbound marketing strategy is far more efficient than any outbound marketing.Facebook ads simply work, as does PPC etc. etc. as long as you have some principles pat down. 

I utilized the pandemic to make HCOL wages in a LCOL area and am trying to take the delta and put it into something which generates cash flow because my retirement is essentially fully funded. 

To precisely compute deductions and guarantee conformity with IRS regulations, it is essential to maintain thorough records of rental income and expenditures.

Same principles apply in many other places across the country.

This is why consulting with a certified accountant is essential to your financial success.