Aloha Chris, you can do more than practice,  you get into the game with OPM.   

You can use Quickbook or Xero to maintain deal wise expenses and cashflow.

My goal is to have enough properties to where I can make 150k a year and have more free time. 

The timing of the sale at $315,000 shows how combining a long-term hold with a flip can be a highly effective approach in the right market.

Bonus depreciation is just a special part of the US tax code.It allows you to take accelerated depreciation on portions of your property depending on when an asset is put into service.At the time of this writing, you can write off a huge portion (60% in 2024) of many qualified components that have a useful lifespan of 15 years or less.That means a certain percentage of things like landscaping, sidewalks, latches, appliances, fences, certain flooring, etc is depreciable in year 1.The bonus depreciation rate percentage changes yearly depending on the administration and the tax code.For years 2015 through 2017 first-year depreciation for all the items on a 15-year schedule or less was set to 50%.It was scheduled to go down to 40% in 2018 and 30% in 2019 and then 0% in 2020.But then Trump got elected, and he enacted the Tax Cuts and Jobs Act.That moved the bonus depreciation percentage to 100% from 2017 to 2022.In 2023 it went down to 80% and it’s currently at 60%.Depending on who gets elected again, 100% may be back on the table.Only time will tell.We know that the US government wants to incentivize more development and ownership of RE.They want Americans to continue to build and maintain our physical world.That’s why real estate is one of the most tax-advantaged assets in the US.Depreciation and bonus depreciation for RE are very positive and will likely continue in the years ahead.

Thank you all for all the information and knowledge you folks share in this platform, found out about bigger pockets through a podcast and I was like whaaaattt, these folks know what they are talking about I can learn here so much.

Closing cost $9,989 While the $10,000 in closing costs appears to be high for a $68k loan, realize close to $3500 of it is taxes and prepaids.Of the $6,000 that are true closing costs, $2000 you can shop for  (which I do not think you will do better).

If you're house hacking, you need to live in the home and can put 3.5% down.

How can a 20th-year-old approach commercial loan officers and investors to lend the money to invest in a 8 or 10-unit apartment?

I am looking to connect with like minded individuals who can help me with deal flow and adding more doors to my portfolio .