When thinking about depreciation it's not about when you buy the property, it is when you "put it into service."

This 4-bedroom, 1.5-bath brick bungalow is currently tenanted with a long-term tenant of 5+ years, generating $900 per month on a month-to-month lease.

Search on this forum and you can see the buffer contingency numbers which people how have invested and got burnt come out with and maybe use  a median to calculate based on that:)

I think the opportunity to scale rather quickly will depend upon using other people's money.

Excited to see what we can learn from each other in this awesome community!

I am also looking for a HELOC to not have to pay out of pocket to finish this and just use the equity in the home.

How did you find this deal and how did you negotiate it?

new to this and just looking for some advice guess i really i don't no where to start so any advice is appreciated bought my first house in may and thing seem to be going well so far its more of a boarding house / house hacking roommate situation with people i know for the moment plan on doing some things to up the equity but am limited on funds i know the neighbors house just sold for a bit more then i paid for mine so that's a plus and mine is nicer and in better shape i have almost no debt for the most part except the current mortgage on said house don't make much from my day job less then 3k a month after taxes and have good credit. i guess i just really need to know where to start should i be starting a LLC or something similar?

If not worse.The difference is negligible in your position, holding over 5M in equity, your time is better used elsewhere.

Your lender should be well aware of this....it sounds like they likely didn’t do the DU step