Recently, I conducted a cost segregation study on the property shortly after converting to a STR (converted June 1 2024), and I want to ensure I file my taxes correctly and legally given this change in circumstances.

To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

This approach is cost-efficient and eliminates the complexities of dual-state filings.

This 1 bed 1 bath condo is rented out 162 nights a year and covers all the costs of running the unit and debt services.

Some of the most in-demand upgrades include:✅ Modern, open-concept layouts – Knocking down walls to create larger living spaces✅ High-end but cost-effective finishes – Quartz countertops, LVP flooring, and neutral color palettes✅ Energy-efficient upgrades – Smart thermostats, updated HVAC systems, and LED lighting✅ Curb appeal improvements – Fresh exterior paint, desert-friendly landscaping, and modern front doorsFinal ThoughtsWhile finding a property that offers both appreciation and cash flow is tough, there are still solid BRRRR opportunities in Phoenix if you know where to look.

You’re on the right track—build awareness of costs where it directly impacts their role, but don’t overcomplicate the program with factors they can’t control.

Renovations that truly add value-like modern kitchens, open floor plans, and energy-efficient upgrades are making the difference in selling faster and at top dollar.Financing & Interest Rates: The higher cost of borrowing has made tight budgeting more important than ever.

I don't know enough about the start up costs associated with the ATM units but I am generally against businesses that have a short shelf life and here we have one we are fairly confident will be deemed obsolete. 

Hi,I have been looking at some of the resources for inspecting properties and estimating costs on this site, and the ones I have seen are detailed spreadsheets and multi-page checklists.

These platforms typically have billing policies where you pay a per unit fee per month to the software and you get regular updates and support each month.There are a number of low-cost platforms available that are able to offer you a lower price by passing along some of the costs to your tenants (payment processing fees, applications, tenant screening, etc).