Unless the building is very well located full renovation of basement units will likely not pay off economically.

Would I be able to get the full 60% bonus depreciation or is it prorated based on the length of ownership this year?

I have a pretty flexible schedule, but wouldn't be able to become a full-time property manager, so I may be looking at hiring one.

Purchase price: $63,000 Cash invested: $70,000 Sale price: $215,000 Project Overview:a complete floor to ceiling renovation with an added bedroom, full basement reno, custom kitchen, and a full list of other upgrades. https://youtu.be/BXD5TU2VCsA?

.- Doubling the penny every year for 5 years is really tough and really risky if it’s not your full time job.

Depends on what your GOALS are. do you like not being tied to the burden of debt service every month & sitting on equity?

Quote from @Marty Neville: Just reviewed my transaction history from my bank which confirmed my property manager has not distributed rent for 12 months, I have requested a full disbursement.

hey joel what services do you offer?

We also use AppFolio and we also have it integrated with a lot of other software that has allowed us to provide even better service.

Send him a letter, emphasize that you are personally yourself the end-buyer, include proof of funds, include something attesting to you being financeable (unless your proof of funds is for the full cash purchase price).If he owns 20 local businesses, good chance he's in at least one chamber of commerce, and if he's not, he 100% knows people that are, who will spill the beans and offer to do an intro if you mention you're interested in buying a gas station over a beer or a meal (there's probably like 3 people in that city that fit this description, why not get introduced to all 3?)