Additionally, ask for copies of all tenant leases, any recent inspection reports, and records of capital improvements, such as repairs or renovations.

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However, if you’re comfortable with the expenses and prefer to hold, you’d continue building equity, but it may take a while for cash flow to improve.

[crawling into my office closet while alternating between sobbing and laughing]  Haha it's actually such a big improvement!

These improvements significantly increased the property’s market value and rental potential, attracting premium short-term rental rates and ensuring high occupancy.

Actively marketing the property and handling tenant relationsCost Segregation: allows you to accelerate depreciation by breaking down the property into different components, such as personal property (appliances, carpeting, etc.) and land improvements (landscaping, parking lots, etc.), which can be depreciated over a shorter period typically 5, 7, or 15 years rather than 27.5.

If you're willing to hold the property and make some cash for the next 5 years or so you could see a big profit down the road or just refinance into a much lower rate and improve your cash flow!

How do you deduct "improvements" such as a room remodel in the rented unit.

I'm thinking of offering $450K (cash and bank loan), make improvements as leases end, and then refi and increase rents as necessary.

These types of improvements increase your house hacking income.