Joint tax return?  

Yes, your rate will change but not much if you have good credit it will go up around 5.875% to 6%.

Is taxes going to be higher today or higher in the future? 

However, in California, each LLC incurs an $800 annual franchise tax plus gross receipts fees if revenue exceeds $250,000, and property insurance may cost more.

I was going to add, as posted above, it's a great rate and stick with that local credit union for the future business. 

This kind of govt nosiness and overreach is why I initially decided against the financial planning industry before starting in credit. you can thank 2008 and all the fraud that went on for that.

If you have equity and decent credit, a conventional Fannie Mae HomeStyle (or the Freddie Mac version) would likely be the better option instead of an FHA 203k loan (which will require a 3rd party HUD consultant to oversee the deal in addition to having the contractor involved). 

Thanks  I am not a CPA or tax expert.  

Quote from @Argel Algura: Hey Bigger Pockets Community,A year ago I wrote about rebuilding and starting over in life and considering real estate investing as a path (see post here: "Bad credit, minimal cash and starting over in life . . .

My question is do I have to recapture all the depreciation for tax in 2025?