So even if the ARV would be $240,000 and could rent it out for $2,000, I would leave money on the table?

To me, low credit is not an automatic no but they really need to have a solid income and money in their bank account.

So, while taking into consideration the age and condition of the damaged item at move in and the time the tenant was renting for is a factor, I personally don't think using a strict IRA depreciation schedule makes sense.

Considerations should include existing debts and liabilities associated with each property to ensure a comprehensive evaluation.Communication is paramount throughout this process.

HI Kev, we helped a lot of luxury STR investors this year utilize the accelerated deprecation tax incentive, I would actually suggest checking out the bigger pockets featured tax preparer section and sine it's likely a considerable reduction definitely not try and do it yourself..the investment in high quality reliable tax advice is essential to any investor tool kit. 

bought a condo with hard money. 

As I hope to use the unit a bit myself, I also want to take into consideration the kind of community I'd like to use (which, conveniently, is also about to be primary parent demographic so I'm hopeful other millennials will be looking for similar things)FWIW, I'm happy to do reno on an individual unit, but was kinda underwhelmed by the community as a whole.I liked Champions Gate, but at my price point, I can't buy much that's appealing there.

Or rent out, refinance , and recoup money else where knowing what I know now .location: southern Florida. 

I didn't have any other properties available to move his family into, and he didn't have any money because he spent $4,000 on this fake rental.

Some of that money goes toward advocacy.