Someone I know bought a ranch to use as a short term rental property in 2021 for $1.7 million.Engineers did a virtual site visit, they were able to assign a value of $347,000 to either 5-7-15 year assets that were eligible for depreciation.In 2021, the bonus depreciation amount that you could take was 100%.This means that the owner could immediately deduct the full amount of eligible property in the year it was placed in service, rather than depreciating it over time.With that in mind, he took the full $347K deduction in his FIRST YEAR of ownership to offset taxable income from rentals.This was roughly ~20% of his purchase price.It was a big win for him.In 2024, the bonus depreciation rate is 60% so the calculation would be different.That said, you can still save and defer a ton.

Several doctors and lawyers and other smart people literally crying on the phone to me as they realized their whole retirement plan was done and they need to work into their 70’s if they wanted to retire.

Should I drop the price to 1700?

Ask them to explain their fees or let you review a copy of the PM Agreement to better understand.

Photos to come What made you interested in investing in this type of deal?

So I have gotten a few PM's about folks looking forward to what I see for Amazon Prime Day.

@Toby FellowsGet an attorney and have them complete the process for you would be my recommendation.While it is something you could do, I always recommend spending a few hundred bucks to make sure it’s done and done properly

It is November 25th and there is only about 35 days left in the year with a lot of professionals who take off the last week of the year.Given that information, you will likely need to buy a poperty with a quick close to achieve what you are looking to do.

We're in FW, TX, and building duplexes to hold and rent.

If you want to do wholesaling, finding the right title company can be very important.