@Ludwig Koeneke There is an appraisal form type that you can order which gives both the AS IS value as well as the After Repaired Value based on the scope of work proposed that you submit. 

The records show the house last sold in Sept, 24 for 382K and was listed in Oct 24 for 416K and reduced to 406K in November.

I believe the property manager needs be on island (but i could be wrong).

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

There are benefits to using the LLC, holding company, or trust, but they all come with costs and add complexity to your life that is often unwarranted.

Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.

Purchase price: $326,000 Cash invested: $19,900 Sale price: $460,000 Basement was already set up as another unit, so I bought furniture and converted it to an Airbnb while living upstairs.

I found a seller who is motivated to sell his property at a pretty steep discount.My plan is to put the property in escrow on an executory contract/land contract with the condition that the title will transfer once the seller receives his funds.

Hands down one of the most efficient ways of learning the ins and outs of real estate investing without taking on to much at once. 

Appeal of STR tax savings is appealing, but I don't want to end up like Jackson.Love your post!