Final construction costs will be ~$1M 3.

I believe in the power of networking and sharing knowledge, and I’m eager to connect with fellow investors to explore potential collaborations and opportunities.Feel free to reach out if you’d like to chat or meet up!

Is it possible to do a cost segregation study this year (2024) and retroactively take 100% bonus depreciation from that cost seg since the property was placed into service in 2022? 

If this does interest you please feel free to reach out!

Here's some guidance on buying your first investment property in Southern California or Columbus, Ohio:Down payment:For investment properties, lenders typically require 15-30% down payment on your first investment15% down is possible with excellent credit (700+ score)20-25% down is more common, especially for multi-unit propertiesSection 8 considerations:Pros:Guaranteed portion of rent from governmentPotential for longer-term tenantsMay be easier to fill vacancies in some areasCons:More paperwork and inspections requiredRent amounts set by local housing authorityPotential property damage concernsOther tips:Research local markets carefully - price trends, rental rates, etc.Factor in all costs - taxes, insurance, maintenance, vacanciesConsider starting with a single-family home or small multi-unitBuild a team - real estate agent, property manager, contractorsHave cash reserves beyond just the down paymentUnderstand landlord-tenant laws in your chosen locationI'd recommend talking to local real estate agents in both areas to get more specific market insights.

If anyone wants to connect to talk about real estate please feel free to reach out and connect with me!

Impressive Rent-to-Price Ratios: Average rents for 3-bed homes are about $800-$900/month, potentially yielding 12-15% gross returns.Economic Transition: While historically industrial, Bay City is diversifying into healthcare, education, and service sectors.Revitalization Efforts: Downtown redevelopment and community initiatives are breathing new life into the city.Strong Cash Flow Potential: Low property taxes and insurance costs contribute to robust monthly cash flows.Let's crunch some numbers on a hypothetical deal:Purchase Price: $75,000Down Payment (20%): $15,000Mortgage (4.5% interest, 30-year fixed): $304/monthProperty Tax: $100/monthInsurance: $60/monthEstimated Repairs/CapEx: $100/monthProperty Management (10%): $85/monthTotal Monthly Expenses: $649Potential Rent: $850/monthEstimated Monthly Cash Flow: $201Cash-on-Cash Return: About 16.08% (not including appreciation or tax benefits)These are rough estimates, and individual properties will vary.

Do you know how much the repairs should REALLY cost vs just being told this is the price?

If you are really unhappy about the cash out, you can take less cash out, but I don't think it's a big issue if you are cash flowing $100 - you essentially get a free rental when you get 100% of your cash back (with equity built in)

Any estimates on cost?