@Caleb Johnson one of the reasons the City of Detroit is like the "wild west"!"

Let's meet up soon I have put together a few of these deals (20+ units) and in the works of building some from the ground up 

Maybe land isn't the way to go? 

You need to know for sure.Even if you raise the rents, the property is still a negative cash flow, so it doesn't make sense.There are always comps.

The skill comes in sourcing deals that arent only on the MLS.

Sorry the rent went on and on.

Failure is not the opposite of success, it's part of success.

Should I charge her a prorated amount of the original rent or the increased month-to-month rent for January?

We lived in the country, across the street from Welkinweir.

We purchased a property in early October and are placing it in service this week (mid November).We had intended to run a cost segregation study and try to accelerate depreciation which we can deduct against our W2 (assuming material participation).However, we have been reading through the IRS guidelines (eg publication 946 on Property Depreciation) and there seems to be the concept of "short year" which would mean that we can only deduct ~1.5/12 of a year's worth of depreciation in 2024.Is this correct or are there any different rules for STRs specifically?