It is very helpful.Are you able to utilize the short term rental loophole if you build the STR instead of purchasing it?

(and utilize bonus depreciation on the assets with lives of 20 years or less)5.

Need to include the misc such as bookkeeping, asset protection, accountant/tax man, utilities from property failure such as slab leak or other water leak, etc.good luck Hello Dan, I hope all is well!

If you have one really great property and it goes vacant that can suddenly become a challenge paying the mortgages, rehab, and utilities.  

It’s important as you start and make decisions to also understand how passive vs. non-passive income interacts with your current income streams.Many investors focus on passive income, which is great and offers some tax perks, but the larger benefits often come when you turn rentals into non-passive income through active, material participation, this is why many high W-2 earners invest in real estate.

Well you've decided to buy a multi with a shared utility.

At $1400/month PITI plus utilities, you could be $3000-4000 in the hole if it takes 60-90 days to get both rented.

I havent flipped anything in a while, but assuming that I eventually get into another flip, my DD process now includes asking for copies of the most recent utilities bills, as well as calling the providers and getting what info I can.Risk is just a part of the game.

If the investor is utilizing MLS or its commercial equivalent to look for deals, then the investor whose successful will utilize offers to “probe”; that is test for sellers who are amenable to sell at investor terms.  

My tax advisor referred me to them, and I also utilized cost segregation on the properties, which significantly reduced my tax bills.