If you were using the property as you primary residence at least 2 years in the last 5 and its value has raised substantially since you bought it, you may want to sell your property to a corp to get the section 121 exclusion on the capital gain and start a new depreciation schedule on the new fair value.https://andersonadvisors.com/121-exclusion-depreciation-tips/

Open to hearing tips and tricks that you think would be helpful for a total noob.Thanks,Adam

I'll take a look around me, thank you for the tip!

Mindset tip: If you find a deal, the knowledge and the money will follow.

I am doing research constantly on home buying and renting out homes.I appreciate any information given to me such as wisdom, book referrals, tips, tricks, what not to do, what to look for, ETC.

Also any other tips on calculating on this strategy is greatly appreciated!

Repurposing each floor into spacious home suites, with indoor gardens in each home, a restaurant on an entire floor, the rooftop with a pool and gym...capital heavy but if it can be streamlined into a science, maybe its new upscale housing fir the cost of a complete interior remodel vs building a stick frame on new land out farther away from the city.

Does anyone have any tips for getting started?

I had to call about 200 lenders (no exaggeration) to learn of 4 lenders who did this and I have some tips.

I am open to any advice/tips that you may have for me.