I could see how it could get up to $16K with materials for a service that large.

@Rod Merriweather Getting a LOC (line of credit) secured by real estate from a bank is going to be tough as the line of credit is viewed as a short-term liability while the property is a long-term asset.

Purchase price: $575,000 Cash invested: $218,750 Sale price: $775,000 This was a tough one.

Wholesaling in NJ is very tough, good luck!

Just keep thorough records of your expenses—materials, labor, permits, etc.

Hi @Greg Scott,I’ve been questioning that too, I know they’re in a tough financial spot right now so it’s entirely possible they don’t.

I live in Clermont and depending on where you are looking $200 will be pretty tough to find at all.

Quote from @Nicholas Nocella: Wholesaling is a tough gig.

We purchased a property in early October and are placing it in service this week (mid November).We had intended to run a cost segregation study and try to accelerate depreciation which we can deduct against our W2 (assuming material participation).However, we have been reading through the IRS guidelines (eg publication 946 on Property Depreciation) and there seems to be the concept of "short year" which would mean that we can only deduct ~1.5/12 of a year's worth of depreciation in 2024.Is this correct or are there any different rules for STRs specifically?

Hey Keonhee -  Austin can tough market for cash flow, but areas between Austin and San Antonio or up toward Dallas might be worth looking into.