You may not feel the need when you own just 1-2 properties, but it may be more relevant if you plan to expand. 

There's other items such as this where it may be helpful to talk to a CPA/EA for a little tax planning, especially since you'll likely get caught up in the passive activity loss limitations if taking bonus on a single rental property as I often see.It's also useful to mention that even if you do the cost seg study (I'm assuming you're doing one to be talking about this), you'll still benefit from accelerated depreciation in the form of shorter useful lives on the assets where you received bonus from.

I am currently 36 years old and planning to start my real estate investing journey this year.

With the exception of building a trailer on the property (these are hard to finance), this sounds like a good plan AND if you are using it for your business AND your business pays more than 50% of the rent (if you have more than 1 tenant), then this is a more financeable property in the eyes of banks and credit unions as it would be consider a commercial "owner-occupied" property. 

.: @Srikanth Kumarjust curious how you plan to manage a BRRRR from out of state. 

Would you rather set it and forget it and not need to refi again or rather take advantage of low/no closing costs on this loan and plan to be more aggressive on your rate at the time of your refi?

The plan was to refinance when rates dropped to improve cashflow, we just had to get out of our hard money loans at the time.

•Contractors (especially if you plan to add value).

You will find that that was Biden's plan.

If you're planning on managing the rental unit yourself, you'll learn a lot about owning rentals pretty quickly.