Hiring a bookkeeper to watch the income/expenses is like hiring a gardener to tell you how many roof shingles are laying on the ground after a wind storm instead of hiring a roofer to repair the roof.I recommend that you look for a quality property manager who can maintain the properties and help with the bookkeeping.Start by going to www.narpm.org to search their directory of managers.

Assets identified in this study include:Permanent Fixtures: windows, doors, bathroom fixturesStructural Components: Roof construction, drywall, wood framingBuilding systems: water heater, electrical distribution, HVAC, plumbingInterior Construction: Wood flooring, stairs, ceramic tileThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

There is roof damage, probable damage to the trusses, and the water line busted.

Also just keep in mind characteristics of the property that carriers wish to avoid such as roofs 10+ years old, old/recalled electrical panels, no impact windows etc. 

And the fact that I've known this wholesaler for quite sometime outside of the business aspect still has me believe there were no fraudulent or misleading practices done here.

Achieving a 4098% IRR in just 58 days is nothing short of remarkable.I’m curious about a few aspects of this deal:Entitlement Process: Can you elaborate on the land entitlement process?

Was wondering other stuff like property management expense like getting a handyman to fix something or roof changes etc, assuming they are a bit more.

Only asking since most newcomers to wholesaling get caught up in the aspect of having "all their ducks in a row" that they forget to focus on what actually matters: deals. 

I would rather own 6 to 10 high quality appreciating properties than 20 to 30 lower priced rentals (e.g. replacing all those roofs, HVAC, all the tenants, turnover and property management fees).

What's the condition of major systems like plumbing, electrical, and roofing?