Gateway markets often have better fundamentals as well. 

It's unfortunate because the location of the neighborhood possesses some promising fundamentals that likely won't come to fruition for a very long time. 

It's also important to note that the percentage of bonus depreciation that your property is eligible for is based on the year it was placed into service and not the current tax year.

You must understand the fundamentals of what constitutes a good investment.

@Chander SriAustin (and surrounding area) is in a correction, but has good long term fundamentals, so keeping it as a rental could end up making you a lot of money, it just might take a few(5-7) years. 

If you are going to complete the BRRRR method in a lower tier neighborhood, select a neighborhood with the fundamentals that indicate the neighborhood will transition to a neighborhood where home ownership will become more prevalent.

Even though I believe I purchased based on strong fundamentals and vision, I also have flipped a few as an investor and sweat equity labor for my dad growing up. 

If the property is a personal property used for personal purposes, there is no depreciation since its not a business asset.There may be a chance that you have a home office within the home that is eligible for some write-off but you have to be using the home office towards a business activity.

If its just gonna be added as a passive loss and not eligible to be used now or in the near future, I would not get it done.best of luck

I think it is, but it is not the same BRRRR method investors are used to.The Changing Real Estate LandscapeThe real estate market has fundamentally shifted since the period from 2017-2020, which was marked by relative stability in terms of interest rates, demand, and supply.