I'm hoping to make an offer to a retiring friend who has a house to sell. 

My thought is that we open a new LLC to run all property management activities (for existing rental property and cottage) along with new bank account, etc. for all activities. 

Quote from @Brad Neihardt: I want to rent out my primary property that I bought.

This year I tried just 7 day min with no mandatory check in/checkout date and had several 10 to 16 day stays at my properties. 

It allows a substantial portion of the asset's cost to be deducted in the first year of service.In 2023, the bonus depreciation rate is 80%.In 2024, it decreases to 60%.In 2025, the rate further reduces to 40%.COST SEGREGATION:Cost segregation involves dividing a property into its individual components for tax purposes.Some parts age faster, like carpets or paint.Your CPA can use this info to more accurately depreciate elements of your property leading to potential tax savings.BASIS:Your basis is the initial price that you paid for your property, including any expenses or improvements.Knowing your basis is crucial for tax purposes, as it's used to evaluate depreciation & determine the capital gains or losses if/when your property sells.LAND VALUE:This is how much your land is worth without any buildings or improvements.Land doesn't get old like buildings, so you can't depreciate it.

Hey all,Looking at a property on Seymour between Fulton and W 32nd. 

My friend got a line of credit on on a couple of his properties.

I used a conventional loan to secure the property.

Hello and good evening to you incredible people,I've decided to invest in long-term investment properties in Florida.

Property tax, occupancy tax, personal property tax, business tax, permit/inspection fees, higher than standard utility fees, ever-increasing fees by the platforms.