However, the depreciation claimed while the property was a rental must be accounted for upon the future sale of the personal residence, which could increase your capital gains tax liability.The adjusted basis of the property (original cost minus depreciation) will be used to calculate gains or losses at the time of sale.

One insurance claim and it will pay for all the premium you paid in last 10 years most likely.

I wouldn't recommend Quit Claiming it during that time but otherwise that should be the only thing. 

I tried shopping around but no one would take me since I had a sewer collapse claim last spring.

Wholesaling is not the walk in the park that the IG and TikTok billionaires claim.

According to our understanding:1) California does not recognize REP status, but we could claim it on our federal taxes, is this correct ?

Also prevented us from making wrong statements on our part which would have reduced the claim.3.  

The one who thinks that they are masters of the universe in EVERY area of life, has 30 different businesses, claims to be fit as a fiddle, with a life in perfect harmony, shows off huge toys, has 30 different businesses, including selling their time by the hour to provide coaching... this person is not running a real estate syndication business.

Is it everything Jerry claims?

Do you best to not file insurance claims.