Others are applying the BRRRR method. 

As others have noted, you first need to back out the land from the $300k based on a fair market value allocation of the lump sum purchase price (some methods include using a tax bill for the land / building ratio - there are others).

. :)  This is why Pace Morby was so timely with his sub to training and methods .. 

Trade or business activities are activities, other than rental activities or activities that are treated under § 1.469-1T(e)(3)(vi)(B) as incidental to an activity of holding property for investment, that—(i) Involve the conduct of a trade or business (within the meaning of section 162);(ii) Are conducted in anticipation of the commencement of a trade or business; or(iii) Involve research or experimental expenditures that are deductible under section 174 (or would be deductible if the taxpayer adopted the method described in section 174(a)).

We have website, SEO, Billboard, google Ads, Bus seats, covered.If you're not in Self Storage, what RE industry trends are you seeing in your consolidator or Advertising methods?

Hello can you pls recommend me a lender that do heloc i have investment property now that rent it cash flow around $400 and i have 150k mortgage on it now and the house worth 227k I want to use this equity and but with the brrrr method like I did with this property... ty  credit score 680

Quote from @Allie McAlister: Hi @Vasudev KirsAre you looking to purchase another property that is distressed and use the BRRRR method?

I always focus on exit mechanics: rights of first refusal that actually function on a timeline, an appraisal method everyone accepts in advance, and a pre-agreed path to sell or buy out without torching value.

The cost seg report prepared using the IRS’ preferred method or the one that isn’t?

They should be able to help you identify markets and properties to use the BRRRR buying method.