To ensure correct classification, consult a real estate tax expert to optimize deductions and compliance.This post does not create a CPA-Client relationship.

On top of that, labor is cheaper, so a full very nice remodel shouldn't cost more than 60k at most.

I don't agree with your assessment on Tertiary markets as it relates to appreciation and cash flow.while some can be OK.. many of those markets are stagnate and those renting are certainly living month to month.. harder to find labor etc.

I specialize in investment properties, high-end homes, and commercial real estate, and I run Updegraff Group Realty, a full-service brokerage that helps investors not only find and fund deals but also manage construction, optimize returns, and scale their portfolios.Financing Your First Deal Without Using Your Own MoneyIt’s a common question, and the truth is—it’s very doable, but it requires strategy and relationships.

While I acknowledge that Long Island may not currently be the most optimal location for the BRRRR strategy, I am eagerly exploring opportunities in the tri-state area, including New Jersey, Pennsylvania (with particular interest in the Poconos), Connecticut, and beyond.

You should go over with your GC - weekly updates on labor and materials spent, deadlines for each project.

We’ve been working towards this for a few years, and it is very exciting to finally see the fruit of our labor!

To reduce taxable income, focus on maximizing deductions for expenses like materials, labor, and interest.This post does not create a CPA-Client relationship.

And the hardest part of all this is finding sufficient labor to rehab/manage the property. 

For those with a W-2, perhaps optimizing 401(k), H.S.A. deductions to potentially get tax benefits.