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There’s zero chance I would move out.

This is due to bonus depreciation which allows taxpayers to deduct 40% of qualifying property costs in the first year, in addition to regular depreciation for new construction and improvement.

.🚨 Common issues I see:❌ Not properly tracking repairs vs. capital improvements❌ Missing out on cost segregation & depreciation write-offs❌ Scrambling at tax time instead of planning proactivelyI’d love to hear from the group—what’s been your biggest tax headache as an investor?

@Will Greenlee there is no perfect PM software, unfortunately.We use one of the most flexible, but it has a long learning curve and we'd still like to see many improvements.

Repairs made while the property is your primary residence are not deductible, but improvements can increase your cost basis, reducing future capital gains tax when you sell.

Quote from @Khyree Randall: @Caleb Brown no offense but a snowball has more of a chance in hell not melting than me ever knocking on a door.

Wish I had remodeled the space that is the dining room into an extra room to improve cashflow.

Has your property been improved by getting the WH?

Wish I had remodeled the space that is the dining room into an extra room to improve cashflow.