The renovation has been progressing well, but some of the actual project costs have exceeded the allocated draw amounts for certain line items.

If you are at the property + working substantially full-time repairing or maintaining the property, these days will not count as personal use, and you don't have to worry about expense allocation/reduction. 

For those stacking hard assets: What's your rough allocation between BTC/gold/RE right now?

My co-host said to allocate $3k for inspection and to address the findings to be safe and hope it is closer to $2k.  

For a property at that price point, DIY can work, though from a CPA perspective the tradeoff is usually documentation and defensibility if the allocations are ever reviewed.

That’s what many people refer to as the STR “loophole,” but it only works if you meet the participation and average stay requirements.Also remember that land is not depreciable, so proper allocation between land and structure matters.

Many investors still choose to use a CPA, especially in the first year, because setting up depreciation correctly and allocating the purchase price between land and building is important and mistakes can be difficult to fix later.

Some are starting to treat that equity more like deployable capital rather than strictly “real estate money.”For example, instead of using it only for another property, they’ll allocate part of it into other income-producing assets or markets where the return potential might be higher or more liquid.Curious if you’ve seen investors doing that more lately, or if in your experience real estate still ends up being the best place to redeploy home equity most of the time.

Of that 50M, 25M was allocated for the construction of a new recreational facility that has since been completed.

@Rory O'Brien  Make sure the space you allocate allows for the pan under the washer, still having problems finding one for ours.