The problem is you probably aren’t even making any money the first year unless you have a tenant lined up and paying.2)Even if you have a paying tenant in the year of bonus, it’s a per se passive activity.

This can lead to significant tax write-offs.However, bonus depreciation is currently being phased out.

Brainhead is nice and you have the added bonus of being 3 hrs from Vegas (which depending on your preferred airline may make flights significantly cheaper).I have a great realtor here.

If changing the deed to an LLC is possible during this process, it would be a bonus.

Any market growth on top of that is a bonus. 

You might also put some sort of tiered bonus structure based on profitability to incent your partner to keep costs down and profit up. 

Someone who is also an investor would be a bonus!

He has brought his resources (people, materials, and experience etc.) into the mentorship which are all bonuses outside of what I paid for and this alone will save me time and money.

I do a cost segregation study and claim bonus depreciation.

Any cashflow from STR is a bonus on top.Does this plan seem logical?