But if you do a cost segregation study, you can break out the shorter-lived parts of the property that are eligible — like:5-year assets: appliances, flooring, lighting, window coverings7-year assets: cabinets, trim, select finishes15-year assets: driveways, sidewalks, landscaping, fencingAll of those could qualify for 100% bonus in the year placed in service.4.

•Don’t forget holding costs — even on light flips they add up quickly in Ohio winters.Let me know if you want a second opinion on comps or want to run through a deal analyzer.

This move came despite a relatively light calendar of economic data and Fed commentary.

I had one like this a year ago, we were able to send the estoppel certs and kick one tenant out by the seller being light on income for that units rent.

@Troy Little going to second what @Matthew Irish-Jones warned about slowing down.Couple of additional thoughts:1) Difficult to qualify for more than one FHA loan at a time. 

I did not cover the living room windows, because it lets in such lovely light. 

A Pex repipe, kitchen renovation, new water heater, new LVP flooring, bathroom vanities and mirrors, new toilets, popcorn ceiling removal, new AC units, light fixtures, light switches and outlets, general home decor, paint, and landscaping.What was the outcome?

Instead, you can unlock 100% bonus depreciation on assets with a useful life under 20 years.This includes:•Furniture & appliances•Flooring•Window coverings•Landscaping & outdoor lighting•Fencing, driveways, and patiosThese can often make up 20–35% of the purchase price — all potentially depreciated in Year 1 with a cost segregation study.Cost Segregation Friendly Features = Faster Write-OffsCertain property features allow you to break down the building into faster-depreciating components:Look for:•High-end finishes (luxury fixtures, lighting, smart tech)•Pools, patios, outdoor kitchens•Detached garages, ADUs•Upgraded appliances and built-insThe more non-structural components a property has, the more value a cost segregation study can carve out into 5-, 7-, and 15-year buckets.Newer or Recently Renovated Homes = Richer DepreciationNew builds or heavily renovated homes often pack in:•New HVAC systems•High-efficiency appliances•Premium flooring, tile, and cabinetryNot only are these attractive to guests — they’re also gold for depreciation, since they’re assigned shorter useful lives and can be depreciated more quickly.Higher Purchase Price = Bigger DeductionsIt sounds obvious, but worth repeating: the more expensive the property, the more there is to depreciate.A $1M STR might yield $200K–$300K+ in bonus depreciation in Year 1.

I’ve also found that a lot of pitfalls (contractor delays, overpaying, bad tenants) can be avoided by leaning on local relationships and doing a bit more due diligence upfront.Just curious, are you leaning more toward turnkey for your first one to get a feel for things, or are you open to light value-add if the numbers work?

I am under contract with a fourplex with common area lighting.