i would connect with cpa/accountant 

@Matthew Crane  Do you have a CPA that specializes in real estate taxation?

I recently spoke to a CPA with real estate experience and they have an added bonus of being a financial advisor which can certainly be helpful to me. 

I would pass your scenario by a local CPA to cover your bases.

Here's more info:It's very easy to have an 'Engineering Based Cost Segregation' study performed to see where you can get back some serious money, using your rentals, from the IRS (most CPA's don't have the education or experience to do this for you- you need to use Enginering CPA's). 

The seller has consulted their CPA but I am looking for a better understanding here. 

Hello everybody,I am looking to change my personal CPA and I would appreciate some referrals of local CPAs, preferably in Broward County, Florida.

First, do I need to talk with a real estate attorney,  CPA, or other before I even start this?

@Marcel Johnson @Rick AlbertOn Tuesday May 14th we're hosting a meetup in LA which will feature a guest speaker, CPA Edward Markaryan, who will be going over Tax Strategies for Short Term Rental owners.  

Hit #3, get the green light from your CPA, and cost seg away!