@Basit Siddiqi when you say 50% RE are you saying 50% percent is equity or are you including debt as part of your RE?

Think about a 16 year old wanting to borrow lots of money - all the questions you would have for a youngster (read - newbie)  a HML Is going to have about you!  

. - if you need two stairwells and an elevator, that will of course drive costs way up and it also eats into your floor plate area and can crush layouts on a smaller building, possibly turning your small CMX2.5 lot you'd planned to build 5 stories on into what may as well be a CMX2 lot and allow only 3 stories, since you can't actually fit 2 stairwells, an elevator, a hallway all the way through from front to rear, a small lobby, a mail room, etc.

What's more, he's brought in his own legal counsel and another business luminary to ensure a seamless process, even managing the intricate paperwork should the 'due on sale' clause rear its head during subto purchases.The culture of knowledge sharing here is unparalleled.

The difference and con is this house is at the end of a street that both backs up to the rear of a commercial store and is very near a busy highway.

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.

After removing the mold risk and opening the walls we found moisture coming through the foundation showing improper foundation work done over time, including wood foundation being used in the rear.

Being a contrarian has usually played out well historically or you could look in the rear view mirror in a year or two and sang Coulda, woulda shoulda : ). 

I am considering building a rooftop deck/rooftop terrace on the rear side of an upper level addition. 

I cant edit my comment.The property is off market in Englewood - A very rough neighborhoodFrame SFH 4 Bed/ 1.5 Bath, Rear Parking Spot, Asking $47k, ARV $185k, and estimated rehab $80k.