I'd recommend you start there.If the quote you have found is correct, then Bonus Depreciation might not be the most financially-friendly choice.

You could tap the $400k of equity in your primary, but that's a slippery slope with the little financial discipline you appear to have and could quickly lead to bankruptcy.

Lucas, I respect your willingness to step up and take on property management, but I want to strongly caution you (and your friend) about the risks of managing a multifamily property without experience, certifications, or financial investment in the deal.

I gave Financial Freedom my credit card info so that they could bill me $3.95 to ship me a book.

This gives you a clear, tamper-proof view of their real earnings over the past 12 months, showing recurring vs. non-recurring deposits, average balances, and overall financial stability.

Prioritize your financial stability.

Hey @Erich Clark,Congrats on the first property and good working planning ahead to future short term rentals.

Those are simple financial questions.

You could also explore HELOCs or cash-out refinances in the future when your income stabilizes.

Checking a box and running a basic credit score won’t protect you in a room-rental situation where tenant behavior matters just as much as financial stability.✔ ID Verification – Confirms each applicant’s identity to prevent fraud.✔ Judgments & Liens Search – Since these no longer show up on credit reports, a separate check helps uncover past unpaid debts or landlord disputes.✔ Eviction & Rental History – One bad roommate can disrupt the entire house.