If you don’t itemize, you won't be able to claim the deduction.Limits on Deductions: The amount you can deduct may be subject to limits based on your adjusted gross income (AGI).

@Sharon Porter,Investing in a state-controlled property like this can be an opportunity, but it's critical to understand the legal and logistical nuances.

You could structure the deal with seller financing to bridge the gap.Possible offer structure:-Purchase Price: $170K - closer to actual value-Down Payment: Low or zero down to conserve cash-Interest Rate: 3%-5% - or better yet, 0% if the seller will agree-Monthly Payments: Interest-only or deferred until the sale-Balloon Payment: Full payoff in two years when you sellIf he wants $200K, you can still make an offer of:-$170K purchase price + $30K as a second lien due at closing-Seller carries $170K at a low interest rateHe would feel closer to his number, but you still keep within reasonable investment limits.2.

Although we try to limit our Hard Money as much as possible due to the cost.

GLA is 1974sq ft, 3 bed 2 bath , blt in 1974, 0.33 acre lot, 85749 zip code just outside of Tucson, AZ city limits.  

From my understanding (not a lawyer), that ordinance has been lifted and there is not limit anymore.

I am 99% sure its not an issue, there are other STRs within city limits and so is my property.

we have to have pre sales my bank will only give me a certain amount of spec loans but unlimited amount of pre sales. its the only way to keep velocity when you have a larger project like us ( 90 homes) We have been blessed no questions about it.. we made some critical decisions when we started that now look like genius moves :)

While I would have built $150,000 in equity, the cash flow simply doesn’t work.Now, let’s compare this to the market conditions when BRRRR was highly promoted (pre-2020).Interest Rate: 4.75%Monthly Payment: $3,057/monthRent: $3,600/monthIn this scenario, I’d be making over $500/month with $23,000 left in the deal, resulting in a gross 26% cash-on-cash return—an excellent deal.As you can see, rates and prices play a critical role in the viability of the BRRRR strategy.

Someone with limited ability to manage 2 or 3 SETS of contractors is not going to have successful rehabs.