Its already bringing in quite a high rental income in Lincoln Park, so I dont think MTR would bring in so much more.

Can I claim bonus depreciation for the property purchased in 2023 against W2 income in 2024?

There also is a lot more than just a promissory note and deed/mortgage to be drafted up so you might want to pick up a copy of my book Lend to Live: Earn Hassle-Free Passive Income in Real Estate with Private Money Lending available on BiggerPockets.

Higher income or credit requirements?

If you- own a short term rental in your name- have a mortgage on that property - self manage Do you still create a LLC to manage your rental business or do you manage it under your name and then file income and expenses as part of your tax filing?

High competition can drive up purchase prices and reduce available deals.Here's how to decide if BRRRR is right for you:Run the numbers: Use rehab cost estimation tools (like those mentioned in J.

Sec.8 Tenants can't  - they have to wait for the housing authority to be approved.BTW, I never discriminate against a source of income.

Send me the address of the property and the existing rental income.

You mention airbnb in your title.You want to work with a professional who understands whether a rental that is listed on airbnb is considered active or passive.if it is passive, there might be opportunities to generate paper-losses in the first year to offset your other income such as wages, interest, dividends, etc.

It makes the same or more amount of income per unit without the risk or cash outlay at the beginning.