Someone I know bought a ranch to use as a short term rental property in 2021 for $1.7 million.Engineers did a virtual site visit, they were able to assign a value of $347,000 to either 5-7-15 year assets that were eligible for depreciation.In 2021, the bonus depreciation amount that you could take was 100%.This means that the owner could immediately deduct the full amount of eligible property in the year it was placed in service, rather than depreciating it over time.With that in mind, he took the full $347K deduction in his FIRST YEAR of ownership to offset taxable income from rentals.This was roughly ~20% of his purchase price.It was a big win for him.In 2024, the bonus depreciation rate is 60% so the calculation would be different.That said, you can still save and defer a ton.

There could also be increased ongoing costs for upgraded internet, cable TV, etc.2. 

Sites like Census.gov or Zillow's market trends can give great insights.

When the first deal failed I turned to BP to get answers to questions I had that were not being answered by DFO and share my experience with other LPs.Within a few days I received an email DFO stating:"I will be sending you a legal letter in the mail and email tomorrow regarding your false and misleading internet comments."

I hear the same thing at local meetups and on this site.  

Hey all anyone know any good SMS Marketing sites or places to use.

Always meet your borrower in person  do not do these deals over e mail and internet.2.

Adding amenities like power, water, and a barn or pavilion could increase its value as an event space.Farm-to-Table Experiences: If agriculture is possible, create an on-site farm-to-table business where people can visit, harvest, and eat fresh produce.

I generally look for the areas of a market that have a large amount of available rentals on sites like Zillow or Redfin that are closer in dollar amount to the FMRs for that county.

You are on site or very hands on, manage a small number of concentrated bets, are investing alongside me, and your day job is 100% focused on ensuring a great return for me.That's the lesson.