Now you rent the other units out giving you some experience with renters and with the added bonus of a renter helping pay down the mortgage making the entire project much more affordable.

AS A BONUS: What is the date you think Lake Mead will deadpool?

I know the total cost of the rehab could be added to the cost basis if I were selling the property after, but could I claim the improvements under the 100% bonus depreciation for 2018?

The appreciation is a bonus.

Long story short, I stayed at my position for longer than I wanted to because I was waiting to take a vacation with my accrued PTO and wanted to wait for my bonus to hit. 

My goal here is to own a property in the school district here at even cash flow and i assume over the next 12 years, it will appreciate, anything on top of that is a bonus.

Whether you restore with a refi or sell, if you have full entitlement it's no cap, and you can use secondary/bonus entitlement up to the county cap after that.TYFYS and best of luck!

- Marcela If you have someone in the area you invest that you’d trust and that has some experience you’d be better off making them a partner that trying to find some different compensation model for a PM.What I’d maybe consider as a PM that would help you is to add some sort of scaling incentives.If a property is leased within 1 week it’s 125% of first months rent. 2-3 weeks 100%. 3+ weeks 75% Arbitrary numbers but you get the point.Renewals after the second year get a bonus on top of normal renewal fee.If you do some sort of bonuses for good performance you could perhaps get a discount on average performance. 

And none of this included fun bonus items like foundation cracks behind finished basement walls.In the end, the house is gorgeous, I paid a ton of interest, and its only now nearly complete.

As an added bonus your P.O.