It involves using Section 179 or bonus depreciation, and I would not DIY this project, as distinction between repairs and capital improvements is one of the most confusing areas of the tax law.And no, you do not need a cost segregation study to deduct these components of your rehab - if you have itemized invoices and receipts.Myth 8: for a valid 1031 exchange, I must exchange STR for another STRNo, you don't.

Most here on BP that buy NPL's like myself only invest in the US as we see plenty of product here in the US and can make good money doing it, so its not worth the risk to venture overseas in other country to learn all the nuances, laws and rebuilding all brand new relationships.

However, if this is a true "joint venture", all members must be actively involved in generating their own profits so the credit partner would also need to participate in decisions regarding the property such as which contractors to hire; handling issues that arise, etc. 

I am looking to get intonthis venture in my Chicago land area and would love some feedback and input from you.thank you for your time 

If you find a problem, deal with it immediately by making the tenant correct it within X days (and verify with another inspection) or remove them from the property.Most DIY landlords lose more money to simple mistakes than it would cost them to hire a professional property manager.

When I lived there, I ventured to other markets in upstate NY for cash flow.I would also consider looking at other markets in the U.S. if you are looking for cash flowGino

Good luck with your ventures in Alpharetta/Milton!

Any recommendations for underwriting templates you are currently using for syndications or joint ventures? 

Not sure what your budget is, but if you’re looking for an affordable place to get started in and don’t mind a little cash flow, Chattanooga may be worth a look—I definitely second what @Tim Ryan is saying about the city.If you’re willing to venture into nearby states, there are plenty of similarly affordable markets in Alabama, Georgia, and the rest of the Sunbelt as well.

Maybe God can help them, but I give up lol  its like any of these deals  about 10% of folks that pay gurus actually do venture out and succeed.