HI Kev, we helped a lot of luxury STR investors this year utilize the accelerated deprecation tax incentive, I would actually suggest checking out the bigger pockets featured tax preparer section and sine it's likely a considerable reduction definitely not try and do it yourself..the investment in high quality reliable tax advice is essential to any investor tool kit. 

I would highly appreciate it!

Also remember even with a high amount of financing, the lender will want to see you have reserves to cover the project in case it goes over budget. 

I talk to a lot of people looking to test the waters. 

There is always risk but in this case the risk is too high.

In a high priced market like ours, off market distress, vacants and tired out of state land lords is the way to go!   

Pressure the city to sue for maintaining a public nuisance.

High performance contractors run on premium gasoline , and they dont run on empty . 

The seller wouldn't accept a lower offer, the renovation cost was too high or ARV not high enough.

I ended up getting in during a high interest rate at 7.5%.