I am most interested in rehabs at the moment, but interested in learning about all areas. 

Hey Brenda - I'm in the same boat.

I've had a rental property in the Portland (OR) metropolitan area for the past six years.

Been buying in Little Rock metro area for the last 7 years and SW has been one of our main areas.  

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.

However, one has the credit score while the other has the rehab IQ… how would you structure the deal between two partners for starting out?

We are new to the real estate industry but we are building a family owned business to earn an honest living while being able to provide and instill good ethics and morals into our children.

We're coming up on the expiration for a lease.

I didn’t paid the 10% penalty fee. 

John is right about the enemy method, its the only accurate way to estimate revenue.The blanket estimated revenue amounts on analysis websites like AirDNA can be a decent baseline, but generally include too big a pool of properties to give a very precise estimate.The way I use the enemy method: Sign up for a pricing software that has market analysis (I use PriceLabs but most of the pricing softwares have this feature).