- Run a cost segregation study on this property in 2024 and you might have $100k on line 18...Without diving too deep on this post - If you run this scenario as a real estate professional while materially participating in the property, You'll be able to reduce your's and your spouses taxable income that year... 

I'm not as good a professional but the work I did was mostly good enough for us to live in, and the small fixes to make it good enough for renters has been worth trying to do it myself.

We are not real estate professionals.1) How would you handle the classification of the property in the 2023 tax year and would you utilize a STR depreciation strategy?

Pay attention to how professional and transparent they are.Avoid Pressure Tactics: Scammers often pressure you to act quickly.

Were the installers skilled and professional?

I’ve watched a lot of videos on how to screen and how to set up work with contractors, so I’m hopeful to build those relationships more in this area in the future.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Timing and location critical Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

As someone who manages over 1,200 properties, I can tell you that proper screening is where professional property managers (PMs) really shine.Here’s why working with a professional PM is worth it:Screening Expertise:Fraud in tenant applications is more common than many realize.

Would have done better if not slowed down by COVID in 2020 Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My name is Anthony and I am currently a full-time healthcare professional.