Early conversations give you optionality without committing you to anything.As for timing the 5 year Treasury, even if it drifts lower over the next couple of months, the spread is often the larger and less flexible component.

A few quick recommendations:Confirm it qualifies as residential rental (27.5-year) and watch for any personal use issues.Be conservative on interior components (cabinets, sinks, related plumbing/electrical can get scrutiny).Lean into the amenities — hot tubs, saunas, exterior lighting, concrete pads, landscaping often drive solid 5- and 15-year allocations.Make sure renovation costs are well documented — invoice detail makes a big difference.Double-check placed-in-service date and bonus eligibility.Sampling doesn’t apply unless you’re dealing with a portfolio.When structured properly, STRs can sometimes outperform traditional long-term rentals due to amenities and upgrades — just don’t get overly aggressive on structural components.Hope that helps 👍

EXAMPLE: I haven't cut my own lawn in over 10 years because I can get it done significantly cheaper than what I make per hour.The other component to keep in mind is landlords typically hire PMCs for one of two reasons:1) No time to properly manage2) No expertise to properly manage- Note: if you have enough time you can learn the needed expertise.Everyone wants to focus on how supposedly "easy" it is to manage rentals.The reality is:1) The difficulty & required time increases as the property/tenant quality decreases with Class A => Class B => Class C => Class D2) It only takes one bad tenant, bad contractor/handyman or mistake that leads to a lawsuit to cost a landlord SIGNIFICANTLY MORE than the cost of a PMC.What Class of rental do you have?

An engineer sent by a cost segregation firm can find a lot MORE components to bonus-depreciate than you can estimate yourself.

The key fundamental lessons are still the backbone of personal finance today:Lesson 1: Pay yourself firstA key component: weather you make $100k or $1M the simple math should be the same.

I know a cost segregation study would be too expensive for such a small amount of property, but is it permissible for me to estimate the value of the components on my own?

The other three often don’t cover the full operating costs, so you lose money every month when one or more units are vacant.You also have more components that can break: 4 x appliances, plumbing, HVAC, water heaters—more repairs and more expense.The issue isn’t whether multifamily or single-family is “better.”

As a small unit count LL, you may want to underwrite with a higher vacancy than the average vacancy for your area (underwriting should be conservative).even if a unit is brand new, when it is put into service the lifespan has started on every component.  

I don’t think it’s one answer as with many things it depends. 5% is probably to high for a fully updated property taking into consideration the major components.

This is so not my style that I can’t comment but would agree about the wife component.