He took videos of everything in there, they sent it back showing the great job they did -- of the stuff I bought at Target and all the boxes I unpacked and put away.

Others 15 yrs, etc.So we depreciate a portion of the asset costs faster.We do the study and get dollar amounts assigned to different parts and different schedules to front-load depreciation.Now you can get 5 or 6% of the value as a deduction in the early years...But wait... there's more.Bonus depreciation allows you to deduct a certain percentage of cost in the first year an asset is put into service.Anything that is on a schedule of 15 years or less...So the doors, sidewalks, HVAC, walls, latches, curbs, security, gates, etcA % of this stuff goes in Yr 1.For years 2015 through 2017, first-year bonus depreciation for these items was set at 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019, 0% in 2020.But then the Tax Cuts and Jobs act moved this percentage to 100% from 2017 to 2022 and 80% in 2023 and 60% in 2024.Its not uncommon to allocate 30% of an asset cost to items that can be depreciated on a 15 year or faster time frame.So now 60% of that 30% of your asset's cost can be depreciated in the first year, excluding land.Pretty great.This is how real estate owners, investors, and operators make millions and pay very little in taxes compared to W2 employees.They pay even less and can offset other types of income if they are an RE Pro.

We have mostly 2-4 unit buildings compared to the larger stuff but that 5-50 range can be a good space to find deals in. 

Pretty awesome stuff!!

Hey David,Awesome to hear you're jumping into your first real estate deal... exciting stuff!

You've got legal issues plus a whole bunch of other stuff.

I ended up just finding a contractor I can trust for the big stuff and use RotoRooter and Mr.

Not sure what you mean by they can't send you stuff by mail, I have never heard of that.

If you want to lend long term debt, you don’t want to compete and be the cheapest on the block (that’s a race to the bottom), you want to lend on stuff that nobody else (or a select few) will lend on and charge a premium for it.

I know those houses in Alameda sometimes don't have the full required 7' in the basement, but that's stuff that can be figured out.DM me if you are still looking for an architect - I am an affordable one!