Hi BP Community,I'm in the process of evaluating a fix-and-flip opportunity for a single-family home (SFH) with the following details:Purchase Price: $1,000,000Renovation Costs: Approximately $400,000Estimated Timeline: 12-14 months from purchase to saleI'm trying to determine what would be considered "good enough" multiples and internal rate of return (IRR) for this type of project.

Baxter, Esq.JGB November 2023 NewsletterIn March of 2023 the Internal Revenue Service made Revenue Ruling 2023-2 clarifying their interpretation of Internal Revenue Code (IRC) § 1014 regarding irrevocable trust basis adjustment at death.

For the better part of two decades I've been involved in real estate in some capacity including but not limited to: mortgage & real estate broker, developer, project manager, STR owner/operator/manager, international investor and beyond. 

Must go through some fashion of UW. 

Anyway, the basic point is when governments aren't perceived by the international market as being substantial, currency values decline.  

That comes when you've started looking at properties you could actually buy and you start over analyzing because you're afraid to pull the trigger.I experienced this in a different fashion when we bought a property and we were gutting our first kitchen and I didn't want to pull the trigger because I was a little afraid of just ripping everything out and what would actually happen.

If they aren't able to reduce your taxes then they don't get paid.I assume they are selective about which appeals they will take on since there is no benefit to them or the homeowner to not be able to win an appeal, but I have no knowledge of their internal business logic. 

I do have a handful of clients that have ended up using multiple CPAs just due to who their partners were on different deals, and even in those cases they almost always end up consolidating to a single CPA - taxes are enough of a headache without dealing with 3 different professionals who each only have a slice of the whole picture.If you are going to regularly be investing across the country, it doesn't hurt to work with a firm that has State and Local Tax (often referred to as "SALT") internal resources, though typically this does come from larger firms with larger fees. 

Building a credit history...all on point.Things that I would also start looking at: where do you want to invest - locally, nationally, internationally?

In case anyone else is wondering about this, it's my understanding after doing a ton of research (but not having talked to a professional) that bonus depreciation only applies to properties in the US (not international properties).