Small Time Investor - Not a 'High Income Earner' - Cost Segregation Study?

[Rachel Anderson]

Hi there. I purchased my first short-term rental two months ago and I put about $25k into renovations into it. I've never had a CPA before, but recently I've talked to two different CPA's about tax preparation for 2023 now that I have this short-term rental. When I mentioned having a cost segregation study done, both of them seemed to think I was crazy for wanting one and they said I wouldn't get my money's worth out of it. 

Is this because I'm not a 'high income earner'? I work for the local public school system, so is it because I don't pay a ton in taxes? To be clear, it's not nothing, and I'd love to offset those taxes. Could it be because I don't have a lot of rental income that it would offset? Again, I just bought it two months ago, so I haven't had much revenue yet. 

Can someone help me understand why I wouldn't want to do a cost seg study? Or how much money I should be making (or paying into taxes) before a cost seg would be worth it?

Thanks!

[Michael Plaks]

Quote from @Rachel Anderson:

@Michael Plaks

I appreciate your response. I was really discouraged after talking to the two that I met with. I'm in Kentucky and I've had a hard time finding CPAs in my area that specialize in real estate. I think I'll expand my search to outside my area. 

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