Can't use bonus depreciation but could use accelerated depreciation and get most (not all) of my rental income tax free.

(Granted, I realized after I created the verbal agreement on price with texts for proof and the lease that I didn't apply the discount I had advertised online.

If anyone has questions, stories, or advice they would like to share, feel free to respond below.

I hope that this helps somewhat, but feel free to schedule a time with me and we can go more into details.BTW,  I have a meetup in Irvine on 4/20 @ 10am (Pacific) in Irvine. 

I've done drastic increases before where I purchased a 6plex where the tenants were paying 700 opposed to 1550 being market rent what I did was i gave everyone a letter saying their rent would increase to 1,100 for 6 months and they would be month to month so they would be free to move at any point  because at the end of the letter i put that after the 6 months their rent would be 1,300 for a 1 year lease after that and all 6 tenants stayed. 2 years later everyone is near market and only one moved. 

Feel free to reach out anytime with any questions .

If don't do a 1031 exchange and decide to pay capital gains, I would have about $450k free of taxes (this accounts depreciation and other costs).

You can create an LLC in the State of Florida online for $135 just visit sunbiz.org. you can then use a title company or get a quit claim deed online and record it with the county government where your property is located.

Best of luck, and feel free to reach out if I can help!

So $30k plus any state income taxes leaves you with $150k+ after paying off mortgage.You can certainly do a 1031 tax free in to a new rental.