Enhancing your current property can often give a higher ROI than purchasing a new one.

**Marketing Enhancements:** - **Highlighting Key Features**: Ensure that your listing photos and description emphasize all the positive aspects of the home (recent renovation, location in the Poconos, proximity to amenities).

I enjoy the creative and relationship aspect of being an agent.

Enjoy the year old post everyone!

For now, enjoy the project, but consider transitioning to a vacation rental later for consistent income.Overall strategy..Balancing multiple properties is challenging, so leveraging property management for the rentals would be wise.

I'm trying to help other people understand that making their rentals sustainable could actually enhance their returns quite a bit, and help the planet.

The cost basis includes:Purchase Price: The amount you paid for the property.Renovation Costs: Add the cost of improvements and remodels that significantly enhance the property's value.Closing Costs: Certain closing costs related to acquiring the property (like title fees) can be added to the basis.You will then allocate the total cost basis between the land (which isn't depreciable) and the building (which is depreciable over 27.5 years for residential properties).If you're unsure about how to allocate between land and building, you can use the allocation percentage from your property tax records or get an appraisal.This post does not create a CPA-Client relationship.

It isn’t very profitable compared to my US investments but it is way more enjoyable.

In situations where the county tax assessor’s land value is excessive, considering other options can yield significant permanent tax benefits that can be further enhanced by a cost segregation study.If you'd like to discuss this topic further, feel free to comment or DM.

I am also 100% positive I am not the first...or second...or hundredth person to ask these questions but I ask here vs. finding others posts as I do enjoy fresh opinions while I start networking.Thank you in advance and I look forward to your suggestions!