Hope you have had a chance to dig in on this website, a lot of great people, investors and overall a great resource to use!  

-Paper folding machine, this will save you a ton of time.

Hey Ryan, I know there are some folks that provide this service but I'm not sure exactly how it works and how much trust is involved.If it's any consolation, I wouldn't sweat it too much.

I hear on podcasts about getting a title company on your team… what benefit does this give you?

Someone I know bought a ranch to use as a short term rental property in 2021 for $1.7 million.Engineers did a virtual site visit, they were able to assign a value of $347,000 to either 5-7-15 year assets that were eligible for depreciation.In 2021, the bonus depreciation amount that you could take was 100%.This means that the owner could immediately deduct the full amount of eligible property in the year it was placed in service, rather than depreciating it over time.With that in mind, he took the full $347K deduction in his FIRST YEAR of ownership to offset taxable income from rentals.This was roughly ~20% of his purchase price.It was a big win for him.In 2024, the bonus depreciation rate is 60% so the calculation would be different.That said, you can still save and defer a ton.

@Samantha Stephens my experience is the property is only available for those will OO to bid on during this period.

@Adam Czachor I’m having this problem for the past two weeks now and I don’t know why.

Hey @Tanya Maslach what about those two zip codes interest you for this use case?

Welcome to the community and be ready for a huge amount of information at your finger tips.

From my basic understanding it would make sense to change it to a rental and then do the remodel so I can claim depreciation on my cost, is this correct or not?