On the financial side, work with a CPA who understands real estate to optimize your tax strategy, especially for deductions like depreciation and expense write-offs.

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.

Should I do a longer write up on it/other deals i've done?

@Scott Schnabel actually, the cities of Hazel Park and Warren require a DL from someone at the PMC and write the tickets in their personal name.

Also, I am on a work trip to Menlo Park, CA as I write this.

I am writing to explore rental opportunities for a recently renovated property that has been 90% restored following fire damage.

And when I speak with people (or write on my blog) I'm always VERY transparent about the unique challenges of the market there.

But, I didn’t write this to tell you that you can’t achieve your goals without a mentor, because you absolutely can.

The US Tax systems, when compared to the EU, seems to be setup for capitalists. 1031 exchanges, write-offs, etc.

Whoever they are dealing with also dropped the ball and the buyers are full of something-everything was in writing and if they signed off removing the financing clause, they are on the hook to buy.