-Rentals are very labile - some rent in less than a week for more than expected, others take two months or more despite being listed for less than they were previously rented for two years ago-There is no cash flow in A or B for new purchases unless you want to put down 30% or more, or find a unicorn deal.

Any tips, advice, or guidance you can share would mean a lot to me.Looking forward to learning from this community and sharing my journey as I progress.

Any guidance on neighborhoods, market trends, or the local real estate process would also be greatly appreciated!

Bonus would be refacing the cabinets if the pricing makes senseI priced out part of the job with HD, windows were somewhat reasonable at $8500 but I was surprised by the cabinet refacing -- Just short of $20k.

We purchased a property in early October and are placing it in service this week (mid November).We had intended to run a cost segregation study and try to accelerate depreciation which we can deduct against our W2 (assuming material participation).However, we have been reading through the IRS guidelines (eg publication 946 on Property Depreciation) and there seems to be the concept of "short year" which would mean that we can only deduct ~1.5/12 of a year's worth of depreciation in 2024.Is this correct or are there any different rules for STRs specifically?

If you have recommendations for Plumber and electrician as well that will be great.

I do worry as more and more time goes by, it's going to be hard for me to not lower the offer.

Obviously the dev here is going to be different just given the difference in geographies and an over lack of granite in the ground here, but theres an epic amount of projects going up here if you're interested in that kinda thing.  

@Roy Logancan you be more specific? 

If you are buying a high cost property with litle to no cash flow, you likely don't have to worry about paying tax on rental income since your depreication will wipe out any cash flow from being taxed.