Quote from @Charles Kennedy: 💭 Question for Note Investors:When buying non-performing notes, do you prefer to rework/modify the loan or go straight for foreclosure and property?

In US tax law, the depreciable lifespan of an asset is defined by its MACRS classification which stands for “Modified Accelerated Cost Recovery System.”Under MACRS, depreciable assets are assigned to different classes, with each class having a specific recovery period.

As a result, when the property is sold, depreciation recapture rules apply, potentially increasing your taxable gain.Additionally, the recent increase in the State and Local Tax (SALT) deduction cap is currently set to remain in effect through 2030, unless modified by future legislation. 

I'm wondering if there's a better tool we're missing that would make it faster/easier to create/modify a good-looking map. 

They stay put quite often in my experience, the bank will modify the loan and typically if I see them on the list again, is when they are a little more motivated.

The hotel reservation is in the BP room block from 10/3-10/8 but can be modified.

.), you're often limited to $25,000 of passive losses per year—and that phases out completely if your modified adjusted gross income (MAGI) exceeds $150,000.Real Estate Professional Status (REPS) or the STR Loophole: To use rental losses to offset W-2 or other active income, you must either:Qualify as a Real Estate Professional (750+ hours, primarily in real estate) and materially participate in the property.Or, if it's a short-term rental (average stay under 7 days), materially participate (100+ hours and more than anyone else) to convert it from passive to non-passive—even without REPS.Standard deduction vs. itemizing: You mentioned your CPA said deductions didn’t help due to the standard deduction.

The borrower showed us a tax return for 2023 that showed he had paid $2,050,000 for the subject property as this was the acquisition cost listed in the modified balance sheet as part of the corporate tax return.  

@James Thomas Nakashian You can use your regular process and modify your lease accordingly.

Do you make less than $150,000 of modified adjusted gross income?