A cost segregation study is a strategic tax planning tool that separates the assets that have a shorter useful life and can be depreciated over 5, 7 and 15 years from the residential rental property or nonresidential real property that are depreciated over 27.5 and 39 years, respectively.

Thanks for sharing @Anton IvanovI have great respect for people with passion, goals and "right" mindset.Your post demonstrate perfectly what can one achieve even with many unknown variables (remote markets, using teams over self-work).I have much to learn and your post gave some great ideas and especially ambition to pursue my REI goals.Have a great day,Benny

Just a couple of ideas, but if you are thinking along these lines with respect to your particular property, you can probably squeeze a few extra bucks out a  month.

With all due respect to the development big firms out there, my project is very small and I believe I'd be best served by a small firm or even one-man shop, and frankly a bigger firm will likely not have time for a small deal.I simply need a low-cost conceptual plan that I can use for marketing to builders.

If you want to learn about real estate investing, buy the man lunchI’m often asked where the best place to get education is for new investors.Truthfully, some of the best seminars I’ve ever taken happened over lunch when I’ve taken out successful investors and had in-depth discussions.Here is how I prepare: before we go, I tell the investor I want to be respectful of his or her time; I ask how long they have for lunch?

A risk with this transaction is lower than anticipated rent ($650 is higher than any of our other units, but is being achieved by many other recently-listed units owned by others), but even at $600/mo cash flow is only slightly negative during the loan period and ROI and CoC are still 40% and 48%, respectively.  

I chose orange county because I am somewhat familiar with the area as I travel there quite often, the taxes are lower than nearby Rockland and Westchester counties, and the percentage of home sales have risen more than the respective counties over the past year. 

Respectfully disagree with @Michael Haynes here.

Once you get an idea of what works well (tiled shower/bath stall, tiled kitchen floor, appliances) in the respective price range this will go pretty quick for you.  

Much respect @Marshall Downs!