Not sure on the depreciation aspect. I would say Ryan and team can answer that and I would assume you will wait to claim bonus depreciation once all units are built BUT you will need to claim your income and other expenses on the Schedule E for 2025.

Are you looking to purchase more properties this year? Here are some options for capital: 1. Check equity in your primary residence or STR. If you have enough equity, you can always do a HELOC or cash out refinance if those numbers make sense. 2. Look for people who may want to invest but not necessarily get the properties themselves. You can create an LLC with them, have them bring capital, and you get the DSCR loan and manage the property. 3. Gift funds from a family member or spouse are always an option on a vacation home loan or a DSCR loan.

@Mason Kimball, CPA what was the site you mentioned to me where you can go and they tell you a reasonable wage for your career type? I think it was pretty pricey though so not sure if there was another option.