I was very impressed with their security, they were so strict.

So, while taking into consideration the age and condition of the damaged item at move in and the time the tenant was renting for is a factor, I personally don't think using a strict IRA depreciation schedule makes sense.

Normally, the cap on seller concessions is 6% of the sale price, but that’s not the case for commercial loans.Here are the trade-offs:5-year stepped prepayment: A typical residential loan at this price point isn’t allowed in the state, but with commercial, those rules are different.20-year amortization: This means higher payments, but it forced me to ensure my deal works under strict terms.Interest rate: It came in at 7.9%, not stellar but still good.Overall, I’m pretty proud of this deal.

Just, again like Bob said read the lease, BUT ALSO you can start enforcing the rules more strictly... the old owner probably didn't do that.

Were they dieting, weighing out food portions?

Being a former California GC, I think the problem could be one of two things. 1) Texas does not have as strict of licensing requirements as Cali does.

If your goal is to retire in the next 5 years strictly off of rental property income, then banking on appreciation is clearly not the case. 

Those waiting for a recession will be waiting for a LONG time...it isn't happening this economic cycle, the stubbornly high inflation rates indicate that.A few points above to reiterate: (1) real estate is LOCAL, while there may be some worrying trends nationally, the Harford County market is strong and will stay that way IMO, (2) timing the market is generally a fools errand if you have a long term outlook (if you're looking at short term investments then timing factors in more), (3) if you're looking for a place to live (not strictly an investment) then there are a lot of other important factors to consider.Bottom line is that if you have the means, and if you intend to own the place for 5 or more years, I personally wouldn't hesitate to jump in.

It's a loophole, and it will eventually close, everywhere.Any property I buy going forward that I plan to hold long term I will only buy in areas that are already extremely strictly regulated for STRs. 

They would furnish it, enforce strict rules, and cover issues under $600.I'm curious about increased foot traffic and liabilities—if something major happens to a guest, would I be responsible?