The volatility of the markets and constantly changing guidelines have been the largest pain points from what I see.  

Here is most likely what is going on:The city changed the zoning districts and they upzoned this area from residential to commercial/multifamily because they need higher density housing.

Good luck on your journey and feel free to reach out if you ever need any guidance or advice.

However, that does not mean that buyers brokers will not get a commission, it will change how things are done and will still be able to be negotiated outside of the listing platform.

If I manage the property on my own next year (2025), will I be able to change the depreciation to bonus depreciation when I file my 2025 taxes and get the tax benefits of bonus depreciation?

Background: I am an undergraduate student starting a real estate fund with $100,000 pledged from the Administration.As mentioned above I am starting a real estate investing club on my college campus with a good chunk of change from Administration.

The only two comps I have found that sold "recently" that are comparable size and location were sold in 21 and 22...which we all know was a market unlike any we have ever seen so I cannot use those numbers. 

I would also look at the current interest rate and term to see if that's a lever I could use to change the cash flow situation. 

It also is helpful to have a California LLC in case you ever sell that property and move into another state so that you do not need to form a new LLC altogether with new operating agreement, just re-register in the new state as a new foreign LLC.

Today it sits at 3.5% or so, but that could change.