Limited Housing InventoryThe number of homes for sale in Buffalo is significantly below pre-pandemic levels, with a reported 46.1% decrease compared to 2018–2019 averages.

The first is that there's no consensus between tax professionals, and the second is that you will not like my personal interpretation.My interpretation is:Until the property is "placed in service" - everything goes into basis.Illustration.You buy a property July 1st.You finish rehab November 1st and put the property on the market.Your tenant moves in January 15th.The property was placed in service November 1st, and it does not matter that the tenant did not move in until the next year.Everything paid between July 1st and November 1st, including interest and utilities, goes into basis.

You never know how much is LP equity, how much is GP equity (paid up vs sales incentive).

I set my rent standards a little high and realized that rent is actually not that high.. we have a morgage on it and it looks like the house is selling for more than we originally paid 4 years ago.

I just paid another $400 and still no app.

However, pricing in Austin is still substantially above pre-pandemic levels.

If the answer is yes, then it's a no brainer to make minimum payments on your 2.8% interest rate mortgage, and use the funds that you would have paid extra to pay it down faster, to either invest in more real estate, the market, or anywhere else where you can get a ROI > 2.8%.If the answer is no, then feel free to aggressively pay it down as fast as possible, to become debt-free faster, and just have a large amount of money in savings or to splurge with.The bottom line is that your 2.8% mortgage is GOOD debt.

Ideally, I’d like to become so much of value that I’d be paid for my help/ services.

Start by getting pre-approved with a VA/FHA lender and targeting a multi-family property where rental income covers most of your mortgage.Good luck!

We negotiated a deal with the owner for 20% Equity, we are responsible for infilling the community as well as property management (which we also get paid separately for).