It would/could be only 15% capital gains tax and yes you could/would deduct all selling costs including commissions and transfer taxes.

It's no guarantee but it's a good place to start.

As a rookie the fear is that I make a horrible purchase which ends up costing me my primary home.About me, I have been fixing aircraft for over 20 years and this is primary income.

We consulted with a designer once, but saw it as no value based on what we had already done ourselves.

Plan on staying married no matter how rocky it gets, work through it, it's worth it. 

One other question I wanted to ask is if during a short sale if the lender would be agreeable to pay a portion of the closing costs?

Bonus depreciation recapture is based on the year that is placed into services.As of right now, the bonus depreciation for 2024 is 60%.It is not likely that they will change the bonus depreciation retroactively to 2024.If they change the bonus depreciation for properties purchased in 2025, it will have no impact on a property you placed into service in 2024.

Purchase price: $90,000 Cash invested: $55,000 Triplex in SE Cleveland (D+ neighborhood)Purchased for 90 and saw 105 for valuation. 25% down plus closing costs and unit repairs has led to about 50-60k going into the deal.

I know a lender that can help with both states that does investment lending for very cheap, it would be worth a connection as you look to build out your team no matter what you decide.

I made a few thousand less than expected but I figure that's just the cost of doing business sometimes.Based on my experience I wouldn't let the remote possibility that a homeowner might go into greed mode dissuade you from doing these deals.