Has anyone else gone through this exercise and can shed some light on the positive and negative aspects of the different approaches?

Some people use that term lightly, but you can only have one "homestead". 

OKC (I always pick on this market) I might use 1-1.5% a year.Renovation Scope & Budget:Break down the renovation budget per unit and scope of work.Identify whether renovations are light ($5-10k per unit) or comprehensive ($15k+ per unit).

Hi All, question hopefully you guys can shine a light!

I'm[Mary Light ] from [Cape Girardeau, MO ], passionate about real estate investing for [ about 4 to 5 yrs ].

Here are a few thoughts based on my experience:Unique Amenities:Outdoor space: If you can create a cozy outdoor area with a fire pit, string lights, or a hot tub, it can set your listing apart.

But everything else like moving walls (non load bearing) recessed lights etc.

So you can buy cheaper AND force equity - you can add the finishes, upgrades to lighting/AC etc.

A good sit-down conversation with the tax professional should shed some light on the topic and help you determine the next steps.

High efficiency appliances were utilized including HVAC, light fixtures and water heater.The use of the accelerated depreciation strategy helps real estate investors to reduce the tax liability immediately which therefore increases their bottom line due to the offsetting of income.