There are fees associated with them every year, they are more complicated for tax purposes and it's much harder to pull money out of LLC's then properties in your own name. 

If you look at the big things that could break in the next 5 years that wouldn't be due to natural causes like hail, you might want $10-$15k in an account to start out with that is available IN CASE something goes wrong before you have brought in a decent amount in monthly cashflow to build up a reserve account. 

The cash flow without appreciation markets (i.e. the Midwest markets) have a hard time scaling with inflation, is too small cash flow to make a significant impact to CA investors, can be a pain in the butt (building trusted team, potentially poor tenants, potential hidden cap expenses, potential Mother nature issues, etc.).What is good cash flow after all expenses in the Midwest after accounting for all costs including cap expenses? 

I'm seeking tax tips for depreciation on an SFR that was purchased in 2014 as our private residence then converted to rental in 2016Details:Purchased in 2014loan was refinanced in 2015  We began depreciating in 2016 tax year, the year we began renting the home as landlordstax preparer for 2016 taxes entered basis amount based on 2015 assessment, not assessment from purchase year or for the 2016 assessmentunsure if bases was set correctly and whether to carry through that same basis or pull current year assessment for this and subsequent tax yearsTurbo Tax seems to be steering me towards using the purchase year assessment for the basis for depreciation.  

:) I still have not pulled the trigger on anything!

The demand curve for self-storage seems to be inelastic which helps pull the sector through major downturns.

There is higher risk and you'll have to go with a bridge loan but when you refinance you can pull money out of the property just like a traditional BRRRR.

This is because it is so competitive and everyone wants to pull out of deals non stop.

I have enough cash to purchase several outright, but would like to eventually pull out equity to then buy more properties.I want to ask. 

(Pull carpets, tear down drop tile ceiling, etc) I do not have enough capital at this point to fully handle the renovations and repairs.