When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

We also team up with great interior designers who can boost revenue too.

I will tell you he did a great job because very little interior re-work was required - but it was a substantial hit to the Reno budget!

Though the buildings are attached, the guest rooms all have individual exterior entrances with no interior connection to the residence. 

You are roughly 50% completed, the interiors will cost more than you think.

Some, like the last one we got in place, used a drive by estimate of value rather than a full interior appraisal.  

You interior design definitely needs work.

I dedicated three months to remodeling the interior myself, transforming the space with a vibrant Retro Tiki vibe featuring splashes of color and creative design.

Admittedly, I made the interior nicer than I probably should have for the area.

HML lenders want to see a clear path to profit, so ensure your ARV and rehab estimates are solid.For next steps, definitely prioritize a detailed inspection to confirm HVAC and interior needs.