As long as John satisfies material participation test, he can deduct losses against his W2.Scenario 2 + Cost segregation: assuming John placed this property in service in 2023 - yes, he can deduct cost segregation based depreciation.

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Well over the years I have done 1ks reno/repairs, and I know exactly what the reno will be based on what I am told.

To create leases, Rocket Lawyer or LegalZoom provide customizable templates compliant with Ohio laws.Also, check out the "Real Estate Rookie" podcast for a great episode on tenant screening, which can provide more detailed insights.Joining local real estate groups can also offer valuable insights and networking opportunities.

Choose your plan based on your money goals, how much risk you can handle, looking into the market, and how long you plan to invest.

I highly recommend starting by tuning in to the BiggerPockets podcast.

I recommend connecting with an investor-friendly lender that can give you an idea of what you will be able to afford based on your DTI, credit score, and current income & assets.

If this coach is in your market and knows the key players in the market, has used various property managers and can tell you the good ones, knows the loan brokers, knows the risks of investing on this side of town versus that, knows the tenant base for your area and what they are wanting from their apartments and what they can afford, than I would say a coach (maybe not the one you are interviewing) is worth it.  

. 🤔 Is base board heat typical in this area?

I think that is a decision based on your situation & goals.I'm not sure what your market rates, prices, or demand are, but I'd suggest analyzing both of the strategies you mentioned and see what numbers make the most sense.