In filing the amended return or the form 3115, do I get to apply the depreciation for the current year or the year it was placed in service?

Hi Chris, I am currently working with a local investor client of mine looking to shift his REI portfolio away from SFR and more so into larger apartment complexes in the Northland Region of the KC Metro.I have been underwriting and analyzing deals recently in the $800k-2.5 million price range for him, so have 'my finger on the pulse' of what's available right now.

G'Day Bob,Not many "true" turnkey companies around anymore and I've seen a trend where investors want to DIY out of state and country.Personally, I think this is an even bigger recipe for disaster than buying turnkey.bBut that's just my opinion.Back in the day you had many "turnkey" companies selling crappy properties in crappy areas for a lot more than market value.Then they pass you on to a 3rd party PM that nickel and dimes you to death.Granted, if you want to DIY I would always advise moving to the market that you want to invest in.Spending enough time with key people needed to make your venture a success.Yep, easier said than done 🤷‍♂️If you DIY from out of state, you will probably find an "investor friendly" agent that will flog you expensive property from the MLS, refer a "good" contractor and then you will most likely also get nickel and dimed by a referred "trustworthy" PM.IMO, you are safer finding a reputable turnkey provider in a market that you want to invest in and go from there.If $#%@ hit's the fan (Which it always does in real estate), at least you have everyone to blame under the same roof.A true turnkey provider will have everything an out of state investor would/want and need under the same roof.No finger pointing is allowed lolI'm bias as we offer turnkey so take my words with a grain of salt.Just happy to offer my 0.2 Aussie cents.Wishing you much success

I currently have the same situation. 

Grant programs also come with strings attached much of the time, so you need to really understand what you are getting into there and if you will need to pay any money back if/when you move.I have a client currently under contract for a three-unit in Brighton Park, who will be able to live in the one-bedroom apartment almost for free (I think with utilities it's going to come out around $300/month).

This becomes especially critical in the current environment where you can earn 5% on your money easily and aren't tying up cash until the project is completed.2.

I’m current of looking for alternative quotes, but not looking promising. 

I manage 325 units currently, and there are quite a few scammers out there that use this even to secure an apartment and then never pay.

My current rental is a 3 bed 2 bath with an additional office room( donot have a closet) 1950 sq ft.

I currently have $40k and own no real estate.