Account ClosedIf its an investment property that you acquired a couple years ago...It depends but If you decide to do so, you are talking about a lot of admin work from having to do the change in accounting method/calculations.You may want to consider doing it after you do the 1031 exchange with the new property.One thing to consider - Will the cost segregation company protect you in the event of an audit?

Unfortunately mortgage servicing is so regulated I have no idea how they make $ at that price since they have to have compliance audits etc. only other option is to do it yourself.

@Matthew Cervoni request to move to the audit department 😂

It also helped to explained why there was annual turnover in both units.We had an energy audit performed on the building and it scored a woeful 42 out of 100 (with 12 full air changes per hour).

I worked in the audit practice of a big 4 firm for 6.5 years before leaving for industry accounting.

Do a listing audit.

My CPA friends said I would most likely get audited because there are dramatic changes on my return as a result of the schedule C.

A short list; HUD, state banking authorities, real estate commissions, FDIC, Comptroller of Currency, the CFPB, FBI, Treasury Department (Fed and State tax examiners) State Insurance Commissions, FHA, VA, USDA, Fannie and Freddie; private types, ALTA, ABA, Insurance carriers, internal auditors of parent banks, title examiners, when banks are public and selling chunks of stock, other institutions may conduct audits for acquisitions and loan purchases along with servicing entities.......

So for example your mileage will be dated and time stamped in case you get audited for mileage.

I have had a couple of CPAs and I was audited by the IRS because of one of them.