Assets identified in this study include:Kitchen Appliances: Refrigerator, microwave, garbage disposal, range hood and dishwasherLaundry Appliances: washer and dryerElectrical and communication systems: Specialized equipmentCustom Cabinetry, Countertops and shelvingInterior Finishes: wood flooring, carpet, and decorative light fixtures.61.64% of the total depreciable basis was classified as 27.5-year class life.

Those memos do not hold authoratative weight but shows the IRS’ thoughts!

Having such commanding knowledge, that stack of 84 pages is just a light read and simple navigation.

These people are so nice that they are still helping you even though most of your responses are just overglamorizing them or profusely thanking them because they didn't ask you any questions.The other problem is people who tell you how bad they feel for you because other people didn't light a scented candle for your two-line post and spend an hour of their own time trying to help you when you have a new profile, with new photo, and no information.You lucked out with some nice people in here @Scott Meech, but it's because of them that you have information not because you brought anything to the table other than a hand out.

You should start with something turnkey or light value-add so you can use the deal to find good contractors.

I would say light rehab $30-$40/sqft - Moderate rehab $40-$60/sqft - Heavy rehab - $60-$100/sqft depending on what is needed

Army Veteran and A&P Certified Heli/PlaneTech.Hobbies Include: Light Sport Aircraft, JDM Cars, Exotic Cars, Snow Boarding, Welding, Mountain Biking, Dirt Bikes, Jet Skis, Drag Racing, AutoX, Kayak, Loons Soccer, etc.....you get the idea.

Maybe, maybe notYou have to weight the pros / cons along with the risks.Your BP mentions you are 'new to real estate'.You are getting into a new asset class along with a business(I consider a STR more of a business than an investment).How much will you save in taxes?

I am a high-wealth earner with years of employment ahead for me, so I will not feel the weight of this loss other than shame on me for not appreciating this risk better before committing.

Thank you all for your opinions and insights, in light of the recent information we have banned Bob Prisco from the forums effective immediately for breaking numerous forum rules.