@Samuel Gebretnsae You have two choices. 1) Walk away and leave your money on the table. 2) Go ahead with the deal and take a leap of faith that the repair was done correctly.

Looking ahead to retirement for both of us, we would like to make a solid investment with few worries about weather events.

In Miami, i have my family and also have great opportunities to build a career there from my parents relationships.Now, im not sure if when i graduate, go to Miami where my family is and start from scratch or if i should stay here in boston and continue building relationships to be much ahead when i graduate.What do you guys think?

Looking forward to the journey ahead....

However, there is a straightforward process that does not require any secrets or gurus, which is illustrated below (click to enlarge).I will summarize each step below.GoalsSetting written goals is the foundation of any successful venture.

If a tenant has a clog and calls, we remind them of this clause and then go ahead and call our plumber, who fixes it and reports back.

That’ll create higher chances of your project finishing ahead of time and create better alignment with you and your general contractor.

But if employing your family works for you and for them - great, go ahead.

At your scale, you would likely need to go full steam ahead and get the required licenses.

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.