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Updated over 1 year ago on . Most recent reply

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Chadwick Hill
2
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6
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RV Park - cost segregation for a non-complex park

Chadwick Hill
Posted

Hey all - 

Recently purchased an ~8-acre piece of land in Florida that is zoned for 30 RV sites with the county, with it currently having 11 sites active with the infrastructure (which is really just electric and sewage (no pads, dirt road, etc.). The property also came with a double-wide mobile home which I've fixed up as well. I paid $400k for the entire property, but I'm unsure how to allocate this to my depreciable basis without doing a full cost-segregation analysis (which I wouldn't think is necessary given the minimal infrastructure outside of the mobile home). Any thoughts from the experts? It looks like similar land is selling for anywhere between $75,000 to $250,000 depending on location, which isn't overly helpful (could obviously dig into this deeper with my RE agent as well to get more specific comps if I go this route).

Thanks!

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