I've looked at adding value by ways of major/minor improvements, but if you get into having to get a GC to add sqft that can turn into a nightmare.

If you can plan your rehab to convert some of the improvements into repair, then property that needs rehab can give better deductions.Also, you could potentially get to deduct the personal property such as appliance if you buy them for the rehab.

The business plan is to basically BRRRR these properties, purchasing at a discount due to the properties are underperforming, we are obtaining a construction loan from a lender, improve NOI and refinance a 1-2 years down the road and then hold long term. 

I over improved because it was my personal residence, but also got well above market rents because of that.

Details:Goal is to Owner Occupy Location: Type A *very close to great schools, downtown walkable locationHouse: 4 Plex 8 beds and 4 bathsSq Ft: 3,548Price: $425,000Mortgage: 20% down 30 year conventional Current Rents: 790, 985, 945, 910 per-month  *These seem low for this area and for the condition of the unitsOccupancy: 1 will be open for new owner to occupyInsurance: $180 per-monthProperty Tax: $415 per-monthAnnual Maintenance: $800Water, sewer, garbage, electric: all paid for by current tenants Cap Ex: $280 per-monthVacancy: $280 per-monthProperty Mgmt: $345 per-monthThe property has had many Cap X improvements over the past 6 years including, new roof, windows, refinished hard wood floors, paint, foundation work, plumbing, electric... 

Self-showing technology continues to improve for vacant rentals.

I bought a property this year that I was planning to hold for 3-5 years, but after improving it, I may sell earlier than anticipated.

Capital goods/improvements like appliances, mechanical, flooring, a roof, siding , driveway, etc will have their own schedules as mentioned, but the building depreciation is straight line and easy.  

I’m fired up to get into REI but want to improve my debt to credit ratio and have a bigger down payment when the time is right.If I weren’t in lockdown, I’d have two jobs and hustle as I have always done -my 9-5 then evening job in hospitality.

Hillsboro OR adopts development code requiring 3/4 street improvements or 20 year warranty of existing street/sidewalks on development.