To avoid depreciation recapture, you need to have corresponding items in the replacement property.Example: if the cabinetry and fixtures and other similar items are worth $20,000 today, you need $20,000 worth of similar items in the property you're buying in the exchange.

The financial viability of the strategy is maximized when a Cost Segregation Study can allocate a high percentage of the purchase price to short-life assets (like furniture and fixtures), leveraging the current 100% Bonus Depreciation to create a substantial "paper loss" in the first year.To use the 100% Bonus Depreciation against your 2025 W2 income, the STR and its eligible assets must be fully "placed in service" by December 31, 2025.

New flooring, fresh paint, updated fixtures, addressing deferred maintenance.I raised rents strategically as leases renewed or units turned.

I wouldn't suggest to start with a gut to the studs type remodel, but be willing to put sweat equity into painting, updating light fixtures, updating hardware, ie making things more current/timeless.

BRRRR in Cuyahoga can work if you keep it tight: one submarket, one property type, light-to-mid rehabs, and lenders lined up before you offer.

There are so many options anymore for lights, vanities, etc. it seems I could search for days.

Using light beige again and off-whites, but using color on cabinets instead. 

These pictures pick up more light and ambient light at night for a better picture.

In my recent talks with investors, I’ve noticed a shift — some are moving away from full gut rehabs and focusing more on light cosmetic flips.What’s your market like right now?

Focus on mismanaged 6–20 units where you can bump income with leases, utilities, and light turns, not heavy rehabs.