If you are not familiar with Scott, Scott was the Executive Director of the Opportunity and Revitalization Council, which was tasked in part to support and advance Opportunity Zone tax credits during the first Trump Administration.

Hi Maria, I just checked through our database and my email and I don't see your name as one of our current or prospective investors.

What should I expect in terms of timelines, paperwork, or other administrative hurdles?

Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.

I would start asking questions about how the organizations you work with handle draws administratively and that should give you a good idea of how things will go. 

During the GFC, the Obama administration took control of these entities and they have since been 100% controlled by the government. 

Spent an hour talking to the Land Use Services Division Chief and a representative from Code Administration.

Also, did they run the current tenants through state databases looking for previous evictions?

I do find it humorous though that thinks the recent bought of high inflation was caused by the current administration. 

There are many options for skip tracing, most just send a query to a single database while others hand-scrub the lists for the results.