Others 15 yrs, etc.So we depreciate a portion of the asset costs faster.We do the study and get dollar amounts assigned to different parts and different schedules to front-load depreciation.Now you can get 5 or 6% of the value as a deduction in the early years...But wait... there's more.Bonus depreciation allows you to deduct a certain percentage of cost in the first year an asset is put into service.Anything that is on a schedule of 15 years or less...So the doors, sidewalks, HVAC, walls, latches, curbs, security, gates, etcA % of this stuff goes in Yr 1.For years 2015 through 2017, first-year bonus depreciation for these items was set at 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019, 0% in 2020.But then the Tax Cuts and Jobs act moved this percentage to 100% from 2017 to 2022 and 80% in 2023 and 60% in 2024.Its not uncommon to allocate 30% of an asset cost to items that can be depreciated on a 15 year or faster time frame.So now 60% of that 30% of your asset's cost can be depreciated in the first year, excluding land.Pretty great.This is how real estate owners, investors, and operators make millions and pay very little in taxes compared to W2 employees.They pay even less and can offset other types of income if they are an RE Pro.

I remember him mentioning it multiple times in the podcast, but I can't remember the specific book, can anyone help me out here?

That bathroom you mention may have to be torn apart and redone, it depends largely on the individual Inspector that you deal with.I would go to the County/City Building Dept counter and talk to them in person.

Should we wait to put in our offer?? 

From the Owner's end, as far as selling their Zombie property would you advice the Owner/Seller to contact the lender and try to get a payoff/deed in leiu of foreclosure, etc. or just follow through with a Quit Claim Deed with the Buyer and have him/her contact the lender...for a response within 28 days for so like you mentioned?

If it's an assignment, then it's a "trimmed down" agreement as you mentioned.

You mentioned about UC.

This seems like brilliant grasp of the obvious, but I mention it so I can answer your questions1.

as mentioned above i would find a househack property in need to cosmetic upgrades that has below market rents. make the necessary upgrades (ie. appliances, flooring, paint, laundry, fixtures) allowing yourself to bring the property up to market rent standards and increasing the rent.I'm not too familiar with the market/properties in MI but in central MA we have a lot of triple deckers that are 100+ years old.

A friend of mine, who's been investing in Austin for years, mentioned that this approach is opening up more opportunities for both developers and residents.In my own experience here in Phoenix, flexible zoning has been a game changer.