It’s especially useful to look at now while bonus depreciation is still phasing down.Using Passive Losses to Offset IncomeIf you can qualify as a real estate professional, that opens the door to using passive losses (like the ones from depreciation) to offset regular income.

I just put them in my regular bank account where everything goes. 

Those areas require regular cleaning and upkeep.

Do regular check-ins early on — not in an overbearing way, just enough to catch small issues before they grow.If everything checks out and the co-signers are financially strong, this setup can work just fine.

We send both regular and certified mail to the forwarding address the tenant provides us at moveout, OR to the rental address they vacated.  

ChatGPT and the other more well-know AI tools are still hallucinating regularly, so check and double-check your AI output, as it's your license on the line.Note: This information is for educational and informational purposes only and does not constitute legal, tax, financial, or investment advice.

Vandalism or Dumping - Unfortunately, vacant land can attract illegal dumping or trespassing, especially if it’s not fenced or regularly monitored.If you haven't already, it’s also worth talking to the planning department and checking for any future development plans nearby.

Is this a home only for investors, or would a regular buyer want it too?

Rather than looking to start with a multifamily, you could look at a regular house (more options and at potentially lower price points) and then get roommates. 

If you're going the umbrella insurance route, perhaps see if it will cover you for several things including just the routine slip and fall (like mold or earthquake).