@Kyle LipkoRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Looking to do my first BRRRR out of state and I am wondering what to have on a checklist if I were to have someone go take a look at a property for me.

Bonus depreciation recapture is based on the year that is placed into services.As of right now, the bonus depreciation for 2024 is 60%.It is not likely that they will change the bonus depreciation retroactively to 2024.If they change the bonus depreciation for properties purchased in 2025, it will have no impact on a property you placed into service in 2024.

Could be $5,000 per property up to $20,000 per property.  1.

They often have access to off-market properties which gives you less competition.

At the time, I already owned a few properties.

I love this and do a similar exercise with our properties.

Small multi-family properties starting at over $1M, which is pretty expensive and, resale single family (before year 2000) offer minimal cash flow (~$200-300/month).2.

For properties under $300K, you can definitely find okay options in these areas.

I really like the multiple income streams from one property.