The bonus depreciation goes down to 40% next year, so I want to make sure I would still qualify for the 60% bonus depreciation by purchasing the property in 2024, renting it out, but then taking over the managing of it for the remainder of the life of it.  

Lots of free info and education out there but if that was enough you wouldn't be on here asking.there's too much to it to explain on a forum post, but that doesn't mean it's hard.just make sure you get the price right and finding help or JV will be easy.

Quote from @Lexi Blevins: Hey y’all currently in the process of renovating a 5B 3B house for rent.

I couldn't make this year unfortunately...They usually announce the next year’s location at the closing session of the current BPCon.  

These will get energy rebates on top if you have an energy code consultant help with the process. 

If not section 8, I would make the rent $1050 for a normal paying tenant.Now, the tenant is upset about the large increase cause I thought sec 8 was paying it. 

Make sure to factor in possible rate hikes when calculating your future expenses.Regarding your offer and projected numbersOffer Price Offering $525K on a property listed at $619K is a significant reduction.

I am concerned that he/she is either filing bogus small expenditures OR performing services himself/herself and making profit.

The BRRR strategy is interesting since I do have breaks in my job that would allow me to oversee the rehab process, but are there other more passive ways to acquire and own real estate?

So make sure that you read the HOA or condo association rules seriously before any commitment.