I will hire an inspector to come through, after the improvements are done. 

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

As I’m now looking to start purchasing and flipping properties on my own, I’m seeking any advice or guidance on getting started, particularly when it comes to finding good deals in the Central New Jersey area.In addition to learning more about the investment side, I’m also open to networking and offering my expertise from a contracting perspective to help others in the community.I appreciate any insights and look forward to connecting!

However the truth is the best software is the one you know how to use the best.

Bella Cohen is the founder / CEO that I spoke with.  

When is the latest date we have to provide the notice in order to not have to pay their moving expenses?   

Once a taxpayer meets the REP status, do they need to materially participate in each property?

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.

Hi @Kevin Duong,I have not used demountable walls before, but I would say to be very careful to make sure that the units are still meeting the legal standards to be considered a bedroom.

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?