I do understand that I screwed up and am taking it as a learning experience.

Then if you want to pick up a first time investor buyer and show them the ropes of the most successful long term investors in your market you can share your time and expertise now and then.

If you want to have a glimpse, look here:https://www.thetaxadviser.com/newsletters/2017/jun/expensing...Warning: it will not give you a clear answer, only a headache.But returning to the short answer, in most cases and based on your description, it will be 27.5 yr depreciation.

They are a way riskier tenant base than your typical A-Class tenant base.

If you can learn how to co-host properly, your risks and start-up capital are much less. 

Getting everything set up and researching as well as connecting with great contractors and mentors to get ready for my first flip.

Purchase price: $88,000 Cash invested: $44,811 Sale price: $190,000 1 bed 1 bath 3rd floor walk-up just a block from the lake in Roger's Park.

I like that I can quickly set up bank accounts for each property and sub-accounts under those so I can keep my property finances in "buckets" as I like to think of it.

How have you all approached this, and have your software platforms been up to the task?

I know the interest they get is taxable I would probably have to set up a LLC with them being equal partners.