Assets identified in this study include:Standard windows and doorsInterior ceilings and wallsBasic plumbing and electrical systemsBuilding structural elementsBasic HVAC componentsThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

You should start with both of these suggestions. 

Start small and make your mistakes then.Don’ttrust me.

.: Quote from @Chad Hale: I used QB when first starting my property management business.

Hiring someone to do the work will likely cost too much (I would charge a small fortune, it's an incredible amount of work) and doing things as cheaply as possible will bite you in the *** later when you start having issues with your own shoddy work and/or materials.

Start building relationships with retirees who want a better return on their money.

Hope this helps you get started, and good luck with your first property! 

Hey @Jay Fayz, I like that you want to take action on getting started!

Feel free to reach out if you’d like some additional resources or guidance on getting started.

I bet that essentially no one is starting new construction projects, which bodes extremely well for owners 2-4 years from now.- Prices for insurance policies will never go back down, but it is not unreasonable to expect costs to rise at a more predictable pace from here.