Building confidence, a plan, and understanding your risk tolerance are all keys to success. 

Assets identified in this study include:Standard windows and doorsInterior ceilings and wallsBasic plumbing and electrical systemsBuilding structural elements and roofingBasic HVAC componentsWater heatersFire protectionThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

No, he's not an architect, he drew all designs, floor plan, site plan, etc, and we had a structural engineer design his part, and paid an architect to sign off on them.  

Educate yourself on the local market, network with other investors and agents, and always have a solid plan in place before making any investments.

You understand some of the basic concepts, but also have some giant holes in your plan.

The six month cd isn’t the point my understanding is that I can’t just take out the HELOC, I need to actually use the money for my plan to work and a short term CD seemed safe and reasonable 

I plan on renting a unit and probably getting a roommate or two in my unit to maximize cash flow early on.

Would love to hear what you’ve got planned for the future.

Not promised or planned, actually funded. 

This would apply to your unit.Your biggest concern with setting the rent should be the near future. 1) Your insurance is guaranteed to go up, probably dramatically.  2) You may get an insurance assessment bill to cover the CA Fair Plan losses.