In your case, it sounds like a similar story.. you identified a property with potential, tackled the structural work, and brought it back to life in a way that justifies a higher price.

If, however, there are any gaps at all in any of the above items, even a gap so small a mouse can squeeze through, that tenant will exploit it and your life just became a 7th Level of Dante's Inferno.....:)

So invest in some kind of real estate like apartments that need heavy lift and get the bonus.Otherwise life settlement partnerships can also give you big deduction year 1. 

L&I has labeled both of them as “unsafe,” meaning the agency found them to be “dangerous to the life, health, property or safety of the public or the occupants of the structure.”

This isn’t about chasing high-growth markets; it’s about addressing systemic issues that impact quality of life and economic stability.

I life in Portugal and here there are so  many houses that can be flipped.

And yes, buy your own home/property, you will have much more control over your life. 

Virtually everyone has used an electric range or oven in their life but lots of people have no experience at all with gas anything. 

Properties are not like stocks where After IPO the market cap is so large that that most of the life changing appreciation is gone. 

If you engage with tenant drama all the time you'll be doing that 24/7 for the rest of your life.