I would like to share a nightmare I am living lately.

But they are for sure doing bong hits in the living room.Anyways, I have found that weed smell comes out WAY easier than cigarettes.

Your first investment is best around your living situation.6.  

Hey @Deborah Williams, Multifamily Live is a virtual event from May 9-11th.

The problem with that is two-fold: first there are likely existing assets that are not replaced that qualify for shorter asset lives so you're leaving money on the table, and second you have no cost basis for the removed assets replaced in the remodel as they're intertwined with the initial building cost basis so you'd technically still be depreciating retired assets which is tax fraud. 

So from 2025, I’m thinking of living upstairs and running bottom floor (half of total RSF) as an STR.

Hey Mario, yes out-of-state investing can work well especially if you're in a high cost of living area.I invest in Detroit and live in California.

My goal is to live in this first property for at least 12 months (but realistically a few years) and have a roommate in the second bedroom to help offset the net costs.

However, there are tenants that have lived in at least one of the units that have been there for over 20 years.

This could be attributed to the higher quality of life, better schools, and overall satisfaction with the living conditions in the more upscale areas and there is no thing like 0 vacancy.