I'm a new member here and currently live in Houston, TX. 

Currently, the house looks like a warzone, with huge horizontal cracks, buckling, and crumbling drywall everywhere.

I'm currently in Houston and would like to learn more about the steps of wholesaling and possibly working with someone step by step for my first wholesale.

Currently I am thinking about trying to collect some preforeclosures and fix and rent.

Quote from @Jeff Betschart: I currently have 4 properties with M&M Property Pros.

Here in Chicago, you should expect a range from $200-$275/SF, depending on the location, experience, labor, and material finish level.Are you in a position where you already own some land, or what is your current situation?

I currently have about 50,000 saved and want to start putting it to use, knowing real estate is one of if not the safest investments.

I don’t want to start a political discussion, but with current events I’d be interested in moving my somewhat significant traditional IRA assets offshore before that becomes impossible.

Recapture typically happens only when you sell the property.If you use the property partly for personal use and partly as a rental in a given year, depreciation and other expenses must be prorated based on the number of days it was rented versus personal useBased on the current tax laws and regulations, once you've taken bonus depreciation on an asset, you cannot "capture" additional bonus depreciation on that same asset in future years, even if the rates increase.In the 2024 tax year, the rate for bonus depreciation is 60%.

If you are a current owner, you are going to love these statistics:Median List Price= UP month over monthMedian New Listing Price=UP month over monthPrice Per Sqft=UP month over monthAvg days on Market=Down month over monthMedian days on Market=Down month over monthInventory=Down month over monthI don’t know if it could get much better for sellers!