The warranties always take a lot of time, and you will either end up filing a warranty to find that it is going to take too long and then purchasing something else the same day, or you will end up giving refunds back to guests while you wait on the warranty to be handled.I learned this the hard way when I first got in to rentals.

I looked into Land Trusts and without adding another LLC it won't provide the liability protection I'm looking for.  

(Long time home owner but this would be my first rental so I'm on the edge of the diving board, looking down into that deep dark pool.) 

If you have a mentor already that's working great, I would lean into them more and utilize them as much as possible to get going.

We're looking at moving to a new PMS that has some CRM capabilities built into it.

@Yanick Anagho, I ask for previous landlord information, but I don't put much weight into what a current/previous landlord might say. 1.

I'm looking at a community for people to move into and support each other, move of a progressive retirement type community, but we will not be in the city limits.I have thought about pulling one up beside my house and renting it;)

My realtor suggested offering it amortized over 30 years with a 15 year balloon, as that what she sees her other investors doing: focus on the cash flow, then when the 15 years is up, do a cash out refi, exchange, or sell to move into something bigger or better.

Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.

I’ve been a bigger pockets member for a long time but I’m just now revitalizing my profile and getting back into real estate.