But the rental too does have to meet the "active conduct of a trade or business" threshold, which does mean you wouldn't qualify to use section 179 if you have a rental that is managed entirely by someone else and you aren't at least overseeing it and making decisions about the management of it.I mostly disagree with the reply suggesting that you need to have an LLC to take the section 179 deduction. 

Look for shops that test and offer guarantees.For valued tenants or premium units: New appliances might be worth the investment for their reliability and long-term durability.Ultimately, your decision depends on your goals.

The seller can pay for it at closing (the title agent will cut the check to the trade to ensure there is no resulting lien) and provide proof of the replacement to the insurance provider.  

If you acquire one new property each year, you could significantly increase your wealth and potentially position yourself to qualify for larger investments, like apartment buildings or construction loans, within 10 years.I’ve worked with clients who have successfully implemented this strategy, and it has proven to be an effective path to building long-term financial freedom through real estate.Good luck with your decision!

I think you should explore local and non-local CPAs before making a decision.

My jack of all trades gets $25.

Also, the whole point of hiring a PM is to handle tenant, maintenance, and rent collection, so if your partner isn’t actively managing but just supervising the PM, IMO not worth having a two people essentially looking over the same tasks.Contributing financially for one person and the other having no financial stake raises decision making questions, such as when to sell, how profits will be distributed, etc.

Both times I was happy with the decision, so I think either decision will be fine, pending your location. 

I've seen people in need make incredibly bad decisions for them (but great for me!) 

The decisions and actions you make today can lead to incredible long-term benefits, so it's great that you're starting now.A good starting point is connecting with a lender that aligns with your goals.