Some tenants leave the place in great condition while others will require you to do paint, repairs/replace certain components.

My advice, if you have time, is to implement the subcontractor model and just hire out individually each component of the job.

Early conversations give you optionality without committing you to anything.As for timing the 5 year Treasury, even if it drifts lower over the next couple of months, the spread is often the larger and less flexible component.

A few quick recommendations:Confirm it qualifies as residential rental (27.5-year) and watch for any personal use issues.Be conservative on interior components (cabinets, sinks, related plumbing/electrical can get scrutiny).Lean into the amenities — hot tubs, saunas, exterior lighting, concrete pads, landscaping often drive solid 5- and 15-year allocations.Make sure renovation costs are well documented — invoice detail makes a big difference.Double-check placed-in-service date and bonus eligibility.Sampling doesn’t apply unless you’re dealing with a portfolio.When structured properly, STRs can sometimes outperform traditional long-term rentals due to amenities and upgrades — just don’t get overly aggressive on structural components.Hope that helps 👍

When you self manage it comes with frustrating components.  

That’s my take on the critical components.

I know a cost segregation study would be too expensive for such a small amount of property, but is it permissible for me to estimate the value of the components on my own?

With $1.2M+ in properties and significant rehab, the depreciation benefit could be substantial - but so is the audit exposure if you get it wrong.The issue isn't that you'll be "no where as thorough" - it's that the IRS prefers engineering-based studies with detailed component breakdowns.

Much easier on new construction than an existing building as long as you have good receipts along the way for building components.

An engineer sent by a cost segregation firm can find a lot MORE components to bonus-depreciate than you can estimate yourself.