To be honest with each of you, he’s not the only one facing this dilemma... without conveying too many details, let’s just say he comes from a very big family and each young family member receives this “inheritance” when they turn a certain age.

Purchased with minor updates to modernize the space, it now serves as a high-performing long-term rental property.

Purchased with minor updates to modernize the space, it now serves as a high-performing long-term rental property.

Do an Internet search for “integrative clinic near me.”Most HAS/FSA plans expire at year-end; check with your company of Issuance for program details and restrictions.

Do an Internet search for “integrative clinic near me.”Most HAS/FSA plans expire at year-end; check with your company of Issuance for program details and restrictions.

I would think I should be mentioned with contact details for tenant to know who the property manager is, but I also wonder what if the landlord decides to remove me as property manager and appoint someone else?

While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.

I know a lot of people do this from a distance but it's putting a lot of trust in someone to manage the details and makes me nervous.

Quote from @Erol Shashaty: Hi Trevor,Thank you very much for your detailed explanation.

That’s a very detailed analysis!