It’s 100% bonus depreciation for properties placed into service in 2017-2022, 80% in 2023, 60% in 2024, 40% in 2025, 20% in 2026 and completely phased out in 2027.

Having held a Real Estate license in Hawaii, I completed coursework and exams for Minnesota and Wisconsin to become a realtor in both states.

At the completion of your due diligence, you have 3 choices; accept the property as-is and move to step 4, reject the property and walk away, or ask the Seller to correct any items that you request. 

I believe it is completely reasonable to have a clause in your lease that places a cap on utilities with any overage (proven by a bill) being the responsibility of the resident.Our clause states that any electrical bill (we don't have gas, and water has never been a problem) that is over double the same month's bill from last year will have the overage assigned as a fee.It is important to keep your bookkeeping straight if you do assess a fee.

Rehab complete!

@John BarryFirst and foremost, Section 8 is a protected class in Massachusetts, so you can not discriminate against any tenant that has it.As for the steps.1. list and show the unit as usual.2. validate all tenants the same way.3. if you go with a section 8 tenant, then they will have paperwork for you to complete/submit.4. section 8 will send out an inspector to check the unit, all common areas, the exterior and the basement (does not matter if they have access to it or not).5.

This project I expect to have fully complete renovation wise in 2 months and am coordinating alongside my full-time PM support. :)

Wish we would have fully completed each project before moving onto the next.

Generally, a loss can only be claimed in the tax year when the investment becomes completely worthless or when there is a final determination that no further value will be recovered.If the REIT has officially liquidated, been declared insolvent, or issued a final report confirming that no additional distributions will be made, you may be able to claim the loss on your 2024 tax return.

If you are exploring Memphis as a potential market to complete your first BRRRR, I'd be happy to connect you with my amazing GC with Triumph Construction.