@Steve Crisp There are a lot of variables that go into play as to whether you could benefit from a cost segregation study or not.

Bonus if you do any of this in a Roth account.

Making money was a bonus because I live here.How did you find this deal and how did you negotiate it?

My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects. 

Bonus, Overtime, and Commission income all typically need a 2 year average either at the same job or in the same line of work.

This also makes it eligible for bonus depreciation (60% in 2024) or Section 179 deductions if criteria are met.However, if the RV is permanently affixed to the campground site and functions as part of the real estate, it may fall under residential property classification and depreciate over 27.5 years.

Exterior having new paint is always a bonus(as long as it looks good).

If I were you keeping the property as 4 units and renting out bonus unit under the radar may be your best option especially if you plan to refi or do HELOC while occupying. 

Mortgage recasting is a great option for homeowners who:Have received a windfall, such as a bonus, inheritance, or proceeds from selling another property.Want to lower their monthly payments without extending their loan term or going through the hassle of refinancing.Are satisfied with their current interest rate and loan terms.How to Get StartedIf you’re considering mortgage recasting, here are the steps to take:Contact Your Lender: Ask if they offer mortgage recasting and confirm your loan’s eligibility.Determine the Lump Sum Amount: Decide how much you can afford to put toward your principal.Calculate Potential Savings: Use an online mortgage calculator or consult with your lender to estimate your new monthly payment and total savings.Submit the Request: Once you’ve made the lump sum payment, your lender will process the recasting and provide a new payment schedule.Final ThoughtsMortgage recasting can be a powerful tool for homeowners looking to reduce their monthly payments and save on interest without the cost and complexity of refinancing.

Newton's law of tax: What goes down must come up.Everyone enjoys the sweet benefits of bonus depreciation, but what happens when you sell?