This strategy requires careful planning, from evaluating potential properties to ensuring that your rehab costs don’t spiral out of control.

So, let’s evaluate.  

It allows a substantial portion of the asset's cost to be deducted in the first year of service.In 2023, the bonus depreciation rate is 80%.In 2024, it decreases to 60%.In 2025, the rate further reduces to 40%.COST SEGREGATION:Cost segregation involves dividing a property into its individual components for tax purposes.Some parts age faster, like carpets or paint.Your CPA can use this info to more accurately depreciate elements of your property leading to potential tax savings.BASIS:Your basis is the initial price that you paid for your property, including any expenses or improvements.Knowing your basis is crucial for tax purposes, as it's used to evaluate depreciation & determine the capital gains or losses if/when your property sells.LAND VALUE:This is how much your land is worth without any buildings or improvements.Land doesn't get old like buildings, so you can't depreciate it.

You’ll want to understand key metrics like cash-on-cash return and cap rates to evaluate deals properly.For flips, it’s all about finding properties where you can add value through renovations and sell for a profit.

Quote from @Paul Morton: is there an attic.. set air handler and go into ceiling with round supplies There is an attic, but I'm going to evaluate whether or not I can finish it.

As a general contractor, I have a strong understanding of the buying, selling, and financing processes, which gives me an edge in evaluating and improving properties.

Expand your network, build a team, and leverage engineering skills to evaluate properties.

Hey David, I recommend contacting an arborist first to come evaluate.

You cannot have both.SummaryFrankie, to achieve financial freedom, you need to evaluate investment locations based on their likely performance over the next 30+ years, not just day-one cash flow.

As for refinancing, it is generally possible, but evaluating the costs, including closing fees and any additional points, is key.As a side note, you are obviously concerned about interest rate, and this can make a difference of hundreds dollars per month, but I see clients with properties where the monthly lease is 2x the monthly mortgage payment.