Is this true?

Doty II, and I’m excited to be joining this amazing community of real estate professionals and enthusiasts!

Obviously that’s different than a spec home though and we have opted to not want to deal with a home owner and bank during the build process at this point.Hope this helps some.

This shift warns of potential hardships if a recession leads to widespread unemployment. 

Agent says this happens all the time.

I know this, you know this, we all know this.

What kind of area is this located in?

Others 15 yrs, etc.So we depreciate a portion of the asset costs faster.We do the study and get dollar amounts assigned to different parts and different schedules to front-load depreciation.Now you can get 5 or 6% of the value as a deduction in the early years...But wait... there's more.Bonus depreciation allows you to deduct a certain percentage of cost in the first year an asset is put into service.Anything that is on a schedule of 15 years or less...So the doors, sidewalks, HVAC, walls, latches, curbs, security, gates, etcA % of this stuff goes in Yr 1.For years 2015 through 2017, first-year bonus depreciation for these items was set at 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019, 0% in 2020.But then the Tax Cuts and Jobs act moved this percentage to 100% from 2017 to 2022 and 80% in 2023 and 60% in 2024.Its not uncommon to allocate 30% of an asset cost to items that can be depreciated on a 15 year or faster time frame.So now 60% of that 30% of your asset's cost can be depreciated in the first year, excluding land.Pretty great.This is how real estate owners, investors, and operators make millions and pay very little in taxes compared to W2 employees.They pay even less and can offset other types of income if they are an RE Pro.

Hello @Audrey Scott,You did not specify this in your post, but I'll assume that you want to buy an investment property.

I’ve never closed a deal but I'm just gonna jump head first into it but I have been studying and reading lots and taking in content, I’ve done my due diligence.