It always helps to let the seller know your track record.

I recently bought an RV to rent on a Lot i had bought to rent as a RV pad. I didnt have any luck finding a renter on the lot for awhile since my pricing ($500, then 400) was a bit higher then what was in the area (30...

W-2 or business income, which means I can’t actually use the depreciation that my rental properties produce.I am investing for long-term cash flow and appreciation, but the depreciation — which is a huge part of the return — is basically wasted on me right now.Because of that, I’m exploring the idea of bringing on a “depreciation-only partner.”Basic structure I’m thinking about:Partner contributes $10k–$20k toward the down paymentI contribute the rest (typically $30k–$40k depending on the deal)I handle all of the work: deal finding, due diligence, financing, property management, repairs, accounting, etc.I keep 100% of the equity, cash flow, appreciation, and long-term upsidePartner gets the depreciation for a set number of years (5, 8, or 10 depending on contribution amount)Partner gets their initial capital back at refinance or saleNo cash flow split, no equity split — just depreciation in exchange for helping me scale fasterVery similar to an LP position, but entirely backed by the tax benefitsFor someone in the 22–32% tax bracket, the annual tax savings from depreciation typically works out to a 6%–15% return on capital depending on their contribution tier.From my side, it lets me scale faster while not giving up equity or cash flow.My questions for the community:Has anyone structured a deal like this before?

The discounted rent makes it harder to qualify for the next deal, and when you’re trying to buy every 18–24 months, that stuff adds up fast.Appreciation in West Town is definitely stronger, but appreciation doesn’t help you buy your next place, your lender does.My take:If Jefferson Park looks good in person and it’s in a solid neighborhood, that’s the one I’d grab.

The response to your question is you're not ready to buy this property.You asked the question what do private lenders typically want to see from a new Investor?

Typically the problem is not general cleanliness.

From a tax perspective, the IRS typically allows pre-rental work (like the hours you spent getting the property ready) to count toward material participation if it’s directly related to getting the property ready for rent.

Which typically comes first?

A few things to help you get started:1.

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