Tax Strategies for High-Income Earners: How to Lower Your Effective Tax RateRecent IRS data shows that the top 1% of earners—those making over $663,000 annually—paid an average federal income tax rate of 26.1% in 2022.

Quote from @Chase Freeland: Cut costs for the next one you do....1.

@Rohullah SharifiThere are more pros than cons for cost segregation.

Any misstep in the notice period, service method, or court filings can cause significant delays, cost you more money, and potentially even result in the court ruling in favor of the tenant.

If the goal is to fund this deal, today: it is likely not effective. 

What are the best practices for suing a tenant for expenses related to eviction and recovery of costs to clean up after them when they leave a mess?

I will do a cost segregation.

I have utilized J Scott's The Book on Estimating Rehab Costs to estimate renovations.

If you meet that test and your STR is placed in service this year (ideally before major renovations), you could even do a cost segregation study and bonus depreciate a portion of the purchase, furnishings, etc.

@Marc YoungYou should not do your own cost segregation study.