Our typical strategy is to purchase and renovate a property with cash (or Lines of Credit), stabilize it with good renters, then eventually refinance on a 30 year conventional for a more secure, long term investment hold.

Short backstory; I’m a licensed builder in MI and have been on my own for 1.5 years completing structural restorations, insurance claims (roofs, siding, floods, etc), and about 15 or so bathroom remodels.

I may not have been clear enough: the ADU is already built, we will just need to do cosmetic fixes (literally painting and rebuilding the shower just because it is super old).

(The property, not land, depreciates to zero after 27.5 years for residential and 39 for commercial.)

Exhibit 4.4: Activity Log Business/Property:__________________ Year:____________ Complete the following by day:________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________ ________________________________________________________________Under penalties of perjury, I declare that I have examined the information contained on this worksheet, including attached worksheets and statements, and to the best of my knowledge and belief, it is true, correct and complete.__________________________________ ___________________ Signatures (both spouses, if married) DateReg. § 1.469-5T(f)(4) provides that reasonable means for proving hours may include a statement of services performed AND approximate hours based on appointment books, calendars, etc.

We all worked hard for years; we are not just going to give it away.

How old is the roof? 

In the longterm your better off buying a solid property, 3-4 units if you can qualify for it, and getting started vs looking for the perfect deal for years that never comes.

In Vinita, OK. 121 year old heavy rehab!

I was only “tax free” for about the first 10 years.