I will PM anyone on this thread that was looking.

However, sellers currently on the market are more likely to accept lower offers, giving us some room for negotiation.Rental Market TrendsThe charts below are only relevant to the property profile that we target.Rentals - Median $/SF by MonthRents held steady from September to October, bucking the seasonal trend.

Hi, this is my first post and I'd like some feedback from experienced investors. 

With the high State tax rate in CA this will be helpful. 

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.

@Bruce Woodruff, I want your extras added to this list first please.Anyone else have some good ones to add so we can help those who are in the middle of their first reno from losing more money? 

I would look into whether you really need a multi-member LLC at this point. 

From my basic understanding it would make sense to change it to a rental and then do the remodel so I can claim depreciation on my cost, is this correct or not? 

@Mike Most this is one of the few times we disagree with @Adam Bartomeo:)It really depends on the specific market the property is in.

If it was originated recently an option would be to have them refinance it - but if it’s a low interest rate then they will most likely want to keep itWhat does your operating agreement say about this?