Many banks handling tax escrow accounts for mortgages have mistakenly thought there was one tax due twice/year or totally missed one of the taxes.Investors should research the SEV and the Non-Homestead property tax millage rates to project what the property taxes will be after adjustment.

2) Their contractor must be properly licensed and insured and we require copies of all this.

@Chris LinIf you were to include Equity growth (from appreciation and mortgage pay-down) what sort of returns would you have? 

If there are newer multifamily properties near you (or properly renovated), definitely something to consider! 

Other CPAs and firms have quoted me 5k-10k+ but are no where near as responsive and personable as my current CPA and accountant.You are going about this properly.  

I want to know is it more cost effective or easier to purchase the property alone and put it in a mortgage in our name or purchase the LLC from him that holds the property within it.

There will always be people with money who want a second home in Colorado who are fine as long as their mortgage is covered.

I find this data super interesting, and took the opportunity to dive into their 2025 edition this week.Nationwide they say we can expect:Average mortgage rates of 6.3%, with rates edging down over the year to reach 6.2% by the end of the year.Home prices will grow by 3.7% across the US, which is pretty modest.

If the proper reports and documentation are not completed, you run the risk of failing an IRS audit and the cost segregation not being honored.

Unless this is some type of homerun deal, which I assume it isn't if the mortgage is upside down, then why bother?