Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.

I then sold the “business” (equipment, name, signs, goodwill, etc) to an operator for $50,000 cash, and the operator signed a five year 3N lease at $3,000 per month.

Yes it has a PM and about 80% of my properties are leased to Sec 8 tenants. 

I have a spreadsheet of the rough timeline for when roofs and cap ex items will need to be done.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

In your contract/leases have you noted the right to have interior inspection?  

You'd have to evict the tenant first and cite the lease and what it says.

Also, you get notified if they cancel the insurance.1) Because it is a requirement  In other words, you cannot rent this unit if you don't have insurance.2) As a landlord, our insurance does not cover your items. 

There were other items on the agenda that were disregarded, which I found maddening.You should also check out www.taxsaleacademy.com if you're looking for training to get started. 

This got me thinking there are probably other items we need to upgrade in a mountain STR.So here's my question for those with experience in the area: What other items or upgrades do I need in a mountain home STR that are not obvious to a newbie/city dweller?