I added value by renovating the kitchen and bathrooms, updating the landscaping, and finishing the basement.

Basically, the bathroom has to be gutted and subfloor replaced.

My mom was with me and asked why they did not use semi-gloss paint in the bathroom, kitchen and on the trim.

Possibly a second bathroom in the future, but not sure if that would be worth it.

Assets identified in this study include:Bathroom Fixtures: Bathtubs, vanities, showers and toiletsStructural Components: Drywall, wood framing and interior partitionsBuilding systems: water heater, electrical distribution, HVAC, plumbingInterior Construction: Wood flooring, stairs, ceramic tileSmoke detectorsThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

We paid him in installments and we're at our final stopof rebuilding our entire kitchen and finishing up small details like filling upnail holes, bathroom vanity installs and etc.

I'm particularly interested in purchasing two-bedroom, one-bath (minimum) properties that offer space and potential for adding an extra bedroom and bathroom.

To succeed in Cleveland's short-term rental market, research local regulations, analyze potential locations, find ideal properties, build a network, plan renovations, stay connected with BiggerPockets, focus on modern bathrooms, cozy outdoor spaces, and practical amenities.Good luck!

A half bathroom in this area adds ~$50k of value.  

New kitchen, countertops, appliances, flooring, demo, new bathrooms, paint, etc.