Maybe the answer is not to post journal entries, but to just change the accounts where the transactions are mapped once the property sells, which is still a lot of work. 

Where the strategy can get is exciting (and what most investors shoot for) is when you can utilize that depreciation against your nonpassive income i.e.

I am very new to this whole real estate world, and would not even know where to start when it comes to this type of financing.

Memphis is definitely a city where the performance of properties can vary significantly from street to street.

If your hoping for repeat guests (where they pay full rate and you don’t have to share it with Airbnb or VRBO), then provide hotel size shampoo, conditioner, body wash, small toothbrush and small tube of tooth paste.  

Hey y'all,I've had a lot of previous experience with rentals (single & small multi family, STR) and did my first flip in 2023 (where I lost a very small amount due to contractors taking 3x the estimated timeline), and I'm looking to finally get into serial flipping.

@Katrina Dividina  you are experienced so hopefully this is just forum-splaining :) just make sure the zoning allows it...sober living is usually addressed individually in the code and has its own hoops.Banks are charging 7.9% now and probably up so I would want a deal on the rate from the owner--where is he going to get 8%??

[Note to @John Underwood...there are no areas that I know of where a golf cart would work (or be allowed) @Dan H.?]

In my mind, a multi-member LLC where my wife and I are 50/50 partners make sense, but I don't know if that will cause problems at tax time with counting losses from the LLC against my active income.

One thing is upper darby Varys block by block so definitely scope out where your buying cause some parts are worse then others.