QIP can be bonus depreciated.To maximize deductions, consider waiting to make improvements until after the property is converted to a rental.

What i do know is i will convert $300k to roth at an estimated 23% fed this year.  

I'm considering converting the shed into a DADU to maximize the use of the space and earn some extra income. 

Put in offer, accepted Wooot. within inspection time period (Owner occupants) we went back and the electric was off and there was 3 inches of water in the basement.

Let any potential renter know that you intend to convert the garage into an ADU and address any potential issues created by adding the ADU (parking, shared yard, quiet hours, etc.)

One was the steps were a few inches off of code in height, and the railing broke when the guy fell. 

I was intending to rent out the upstairs 3/2 as an LTR then convert the basement to a unit for myself half the year and rent it out as an MTR (midterm rental) when I wasn't there.

We converted a old restaurant on the property to a coworking lounge, redid the pool and built out the roof to a entertainment center with fire pits, lounges, bubble chairs, barbeque, large screen TV, music, yoga mats and amazing views of the ocean and city lights.It is designed for coworking/coliving for business professionals and entrepreneurs who want to...Live where they work.

Rarely is the pursuit worthwhile unless there's insurance money available or assets that can be converted to cash.  

My worst story was while I was flipping a house with a converted garage (no permit).