Honestly, we should have been easy clients - we came to him with a plan in place wanting his help on claiming REP status, setting up a cost segregation for a rental property bought and functioning in 2022, so that we could file for 100% bonus depreciation for that tax year.

Honestly, we should have been easy clients - we came to him with a plan in place wanting his help on claiming REP status, setting up a cost segregation for a rental property bought and functioning in 2022, so that we could file for 100% bonus depreciation for that tax year.

I do understand that rental properties are a function of appreciation but wish to know what would be the best methodology to understand the overall negative cashflow to asset appreciation ratio or a metric to benchmark it against e.g. % appreciation YoY.

You can use the lookup function on my name and Selfstorage.  

For my investor side, I use REI Blackbook because of all the included functionality...you do not have to duct tape together 12 apps with zapier.

The basic function it serves is to provide you with access to the network. 

The HVAC is relatively old, while it is still working, it may stop functioning in some point.

So, yes, you need to the primary insurance, e.g. the homeowner's/landlord policy.While this doesn't "replace" a LLC, it serves a similar function since the insurance is now mitigating your liability risk. 

My first interest here is in seeking advice on purchasing a property that will initially serve dual function as a STR and vacation property for my family.

And this is intriguing to me because in theory the value of a commercial property is a function of the lease more than the property.