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Remodel while the property is still in your name to increase its basis, which can reduce future capital gains taxes, and take advantage of the capital gains tax exclusion if you sell within three years (up to $250K for single filers or $500K for married couples).

Your question has been debated between BP tax experts both privately and publicly, for example here: https://www.biggerpockets.com/forums/51/topics/819991-expens...And we ended up where we started: no consensus and no clarity.There have also been court decisions that support my interpretation, even though I personally find these court decisions debatable.

We're in it for the long haul, we want tenants to stay a long time and reduce vacancy. 

Mortgage rates would likely stay above 7%, keeping financing costs high and reducing affordability for buyers.Investors takeaway: Focus on off-market properties and motivated sellers where there’s more room for negotiation.

It is very easy to save money working in public accounting.I forgot what my dinner allowance was working at the big four 5 years ago in a major city(I think it was like $20?)

The Yale Law Journal article, "Zoned Out: How Zoning Law Undermines Family Law’s Functional Turn," highlights this issue, noting that while family law has evolved to recognize diverse family structures, zoning laws have lagged behind, potentially hindering innovative housing solutions like co-living.Challenges for Co-Living InvestorsFor real estate investors interested in co-living, these restrictive definitions can lead to:Legal Barriers: Difficulty obtaining permits or approvals for co-living spaces due to non-compliance with traditional family definitions in zoning codes.Operational Challenges: Potential fines or legal disputes arising from housing arrangements that don't conform to local zoning definitions of a household.Market Limitations: Reduced ability to meet the growing demand for affordable, shared housing solutions.Advocacy for ReformThe Bloomberg article, "Why Are Zoning Laws Defining What Constitutes a Family?"

I think funding someone else who is experienced when starting would be a great way to reduce your risk.

private real estate syndications are another option to passive RE investing, but IMO require a lot more research before buying than REITs where you have a professional team managing under SEC regulations, with public accounting and filings.

Capital Gains & Exit Strategies: If I decide to sell in the future, what are the best ways to reduce capital gains taxes?