I fixed it a bit (mostly cosmetic) I staged it with furniture I bought for it What was the outcome?

What are actual cap rate for multi’s trading for in the area? 

What was the outcome?

Learning all the aspects and trades to be more rounded and make money How did you find this deal and how did you negotiate it?

I kicked out the bad tenants, did some cosmetic upgrades and then marketed the building to the right demographicWhat was the outcome?

Open kitchen, some paint and drywall What was the outcome?

Office furniture and fixtures are 7 year GDS assets.Absent an electing real property trade or business election under 163(j), and ignoring the land and amortizable intangibles, I'd expect to see 5yr, 15yr, and 27.5/39yr GDS assets only on a residential rental's depreciation schedule.Agree that it's difficult to navigate the tangible property regs and depreciation class lives without a CPA.

Accounting/tax questions:Many of us know that in order to qualify as a real estate professional status, one of the things you have to do is you have to perform more than 750 hours of services during the tax year in real property trades or businesses in which you materially participated.Would the time reading books related to real estate count as part of the 750 hours?

I didn’t have to add value to the deal What was the outcome?

Is your business where you are the jack-of-all-trades?