Recapture typically happens only when you sell the property.If you use the property partly for personal use and partly as a rental in a given year, depreciation and other expenses must be prorated based on the number of days it was rented versus personal useBased on the current tax laws and regulations, once you've taken bonus depreciation on an asset, you cannot "capture" additional bonus depreciation on that same asset in future years, even if the rates increase.In the 2024 tax year, the rate for bonus depreciation is 60%.

Ask to speak with some of their current owners and current/former tenants.

There's currently a tenant in the house (who I presume caused the smoke damage), but the seller promises that this tenant will be gone before closing.

My thinking immediately turned to researching local rental costs per square foot to determine income potential with triple the current square footage.

Quote from @Steve Tokita: I am an out-of-state investor living 1500 miles away from three properties that I am currently renovating to rent or to flip. 

Essentially I am looking for a clean way to organize everything as right now its very messy with how my current accountant is working things as he doesn't specialize in real estate.

Yeah, I think we're all a little biased to where we currently invest.

I currently live in Phoenix, AZ but I'm looking to purchase land and put two prefab homes on it with my business partner.

I currently use Wells Fargo and it’s a pain in the butt to keep going there in person and setting up a security deposit account.

As I approach the end of my current lease, I'm eager to embark on a journey of house hacking with multifamily properties.