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've been to 38 of the big 63 National Parks; both Hot Springs and Broken Bow, which kind of cater to that same crowd, ever seemed appealing enough to visit.It doesn't mean that they are bad places to invest, but the anecdote needs to corroborate the data for me to want to cut a check and stress out for several months hoping it will work.

Tax Policy: Proposed revision of high-income tax cuts to fund housing programs and economic stability initiatives4.

I have worked with many lenders that will give you the run around, ask for more items, with no clear cut guidelines. 

If not, cut your losses, sell the home and learn from your first investment. 

When you do your first renovation, the last thing you want to do is to cut corners.

Up until now we have been using Evolve vacation rental to “manage” our properties and to cut a long story short, we are ready to take it on ourselves in order to scale our business.

Don't cut the corner on this one to save money.

I concur with Jay: it's all in the discount and $100k doesn't cut it.My 2 cents,Mike

That way since there is a connection to the basement there is not issue with you crashing down there.If you don't want to do something like that, I would cut the basement off from the first floor and just rent the first floor, leaving you the basement to crash in when you want.Or see about getting the basement made into it's own separate unit now that ADU are allowed in Mass (although the law may not kick in until the new year)Also your town may now require a certificate of occupancy to be issued before you can rent it out and they may have something to say about this basement connection anyway.Just my two cents as they say.