It's impossible to budget capex accurately without an inspection unless you are experienced enough to walk through and basically do your own inspection and know what everything costs.

Basically you are identifying items that can be depreciated over a shorter useful life.

@Jenning YuYou opened a can of worms :)  Thumbs up for getting into these high-end technicalities and understanding the basics.

They cover many basic things that won't be covered in any detail in podcasts on investing.

We can turn around quotes in 2-3 biz days after receipt & review of basic property financials (rent roll, T12 financial statement, AR report). 

You’re basically pulling future depreciation into this year.Two things to watch:Make sure the rentals are truly rental activities for passive vs nonpassive rules — big losses don’t help if you can’t use them.Get the study done by someone who actually knows residential rentals, not just big commercial.So: yes, you can do it now, yes, you can catch up, but no, you generally don’t get to go back and grab the old-year bonus as if you’d done the study in 2020.

My current plan is to pay off mortgage + interest as soon as possible by adding extra principle. 

Start by learning basic money skills and personal finance and keep doing what you're already doing (learning about real estate!). 

Love what you're building — you're basically turning ChatGPT into a portfolio analyst. 1.

Once you understand a pocket well, it becomes much easier to spot a deal and know when to walk away.It also helps to put together a basic plan you can repeat on future projects.