Additionally, it can help maximize renovations and improvements.32.8% of the total depreciable basis was classified as 5-year class life.

@Alex Mull as some with experience in both turnkey and all-in active investing, I can tell you the biggest advantage is saving, time, hassle, and some full-service turnkey companies mitigate your risk by doing the upfront renovations and placing qualified residents while the company still owns the house.

Maintained appropriate insurance yourself (builders risk when under renovation, vacant when vacancy periods exceeded your insurance policies allowable time frame etc?

(Some people buy a run-down place and renovate it before starting the STR. 

We complete renovated and turned into a successful operation with a current 11% rate cap. 

Best Value adds are:Updated kitchen, updated bathrooms, cosmetic remodels.Additional bathrooms - finished basement spaces, in unit washer dryer, central air, additions/alterations.All of those are useless though if your roof is 30 years old, your mechanicals are from pre 1950's, and your home is in dire need to be renovated "behind the walls"Otherwise the above will increase your value but you will be left with Lipstick on a Pig

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $465,000

Cash invested: $80,000

Checkout my Airbnb here: airbnb.com/h/madeirabeachoasis

Salt Water Pool & Hot ...

(Sale price - selling costs) -(purchase price+ purchase costs)- renovations = taxable gain. 

My original goal was to buy a rent-ready duplex and house hack, but based on my pre-approval and what I’ve seen, most multi-family properties in my range need renovations. 

I bought it with my mentor and partner who has experience in renovation and hard money financing Congrats!