With this, as a lender we can exclude any payments for the current home to help increase your borrowing power for a new home. 

I can not imagine you'd get a permit with "just a box drawn on the site plan".....nothing showing plumbing, electrical, structural elements, etc. meet building code.

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So simple so powerful yet so many people will come up with so many reasons not to do it!!

Assets identified in this study include:Building systems: water heater, electrical distribution, HVAC, plumbinPermanent Fixtures: windows, doors, bathroom fixturesStructural Components: Roof construction, drywall, wood framingInterior Construction: Wood flooring, stairs, ceramic tileThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

It's an incredibly powerful hack if you do meet the criteria.In other words, marry a real estate agent who's an RE Pro!

My townhouse is all-electric with no garage, no fireplace, and no bbq grill, so no source of carbon monoxide.

Do you pay utilities (electric, water) and mortgage through Baselane.

I was talking to the guy that found me the deal and he said it has a Federal Pacific electrical panel and he's saying I'll have to rip out all the sheetrock and redo the wiring in the house as well as the plumbing because it has galvanized pipes.

If you decide to build, you can just build on the pad and use the existing power and water ports for plug ins.