If you charge a per day rate it gets more complicated and you run the risk of potentially breaking laws in some places about late fees.

I wasn't sure if I would get penalized for cancelling online.  

Here are a few definitions that you absolutely must know.Bookmark this thread and use it as your cheat sheet for 2024.Okay, let’s dive in:Here are the terms that I’ll define in this thread:-DEPRECIATION-BONUS DEPRECIATION-COST SEGREGATION -BASIS-LAND VALUE-IMPROVEMENT VALUE-3115-RECAPTUREDEPRECIATION:Depreciation is the decrease in $$ value of your asset over time due to wear & tear, etc.Standard depreciation is deducted evenly over 27.5 years for residential and 39 years for commercial.Even w/o cost segregation you get to deduct depreciation each year.BONUS DEPRECIATION:This is an accelerated depreciation method.

And will get to use the deferred tax to purchase more real estate.  

@David CherkowskyI think you will get a better bang for your buck just outside of old town than within old town.

If you're in the market for a new property having that 700k sold using a 1031 exchange is a good way to get into something new.

If the seller gave instructions to his agent to not present any offers under full asking price, then the agent is obeying the wishes of his principal.Sounds like you can’t afford the property.I beg to differ - the seller is getting OVER asking price both in the purchase price and the interest accrued.

Cash flow is challenging to get with interest rates being higher, but possible if you find the right deal.

Best to call your insurance agent now.File a claim NOW - get in line for adjusting.

I’d get clear outline of what they cover and what they don’t cover.