Given that I do not have any American credit established, the technique of assuming a mortgage is very attractive to me.However, my concern is that will I be eligible to assume a mortgage given that I am not American?

If you chat with them and figure out what deals are generally eligible for them, then you can target your buy box.

Will that make it a rental for 3 years and no longer eligible for sec 121?

The fundamentals aren’t bad and the outlook is somewhat bullish for the next year.

If you purchase a property, many of the costs on the closing statement are added to your basis.There may be some items that are eligible for an immediate write off such as pro-rated taxes, interest, insurance and hoa dues.

This is a fundamental rule to finance.

A cost segregation will not classify the whole building as 5 year.It will classify some as 39 year, 15 year, 7 year, 5 year and 0 year.The items classified as 15, 7 and 5 year will be eligible for bonus depreciation.Since bonus depreciation is currently 60% for 2024, you will still be depreciation some of the remaining depreciable assets over the next 15, 7 and 5 years.A majority of the building will still be classified as 39 years which still gives you a good amount of depreciation into the future.

I’m trying to build my Roth SDIRA with enough these notes that when eligible I can start living off the income from these performing notes without touching my other investments.  

Based on the statutes, the legislative history, and the case law, the following 7 essential elements will help guide you when working with your lawyer and administrator. 1.Third Party Administrator (TPA) – I use Trust-CFO as my firms third party administrator for my CA clients with PRPs. 2.Qualified diagnosis by the TPA to determine if you even qualify3.Asset exemption analysis by the TPA to determine which of your assets are eligible for exemption4.Funding analysis based on income, age, and retirement needs5.Plan documentation and funding of plan – this is a critical step often overlooked or not done correctly.

Hi Dustin,     In my opinion, based on your big picture goal, It may be more effective to hold onto it until you meet the bank's eligibility criteria and then sell it while the market is still extremely hot with very low inventory (especially in Worcester!)