For a rental adding central AC in south Philly is a must so a house with ductwork in place is a big bonus.

Since conventional lending is not in my future for several months, I would be looking for subject-to, seller financing, and/or hard money, depending on the situation (still learning more about those).Naturally, going where the numbers make sense is my priority, but it would be a nice bonus if it were somewhere I myself would like to go or could realistically drive to in a day (or hop on a quick flight to).

Since we are young, our salaries are low by bay area standards, but we both have good care trajectory and make a combined $155k gross, plus commission bonuses.

The reason why I wanted to do a cost segregation or at least see if it makes sense for us is because I want to “ use bonus depreciation or try and get a refund back to use on another property and of course save taxes.  

The study identifies with forensic engineering detail the immediate Bonus Depreciation 5, 7 and 15-year personal property class lives qualifying portions of a building that are normally buried in 27.5 year residential or 39 year commercial categories.

The bonus of that?

There are about a dozen modules or bonus material. 

- Bonus for insights on monthly or annual revenue for a STRs!

(https://www.irs.gov/publications/p946)- Have a cost segregation study that has a high percentage of the cost basis as depreciable on a shorter scale so that I can use bonus depreciation to depreciate a large amount (e.g. 60-70% of purchase value)- Run the property as a short term rental (averaging less than 7 days rented) and meet the tax code requirements for making that income active by participating "in the activity for more than 100 hours during the tax year, and you participated at least as much as any other individual (including individuals who didn’t own any interest in the activity) for the year."

If you do DIY manage, bonus money in your pocket.Do NOT fudge the numbers above to make a deal look acceptable!