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.

Our strategic improvements and targeted marketing paid off, resulting in a successful sale on 10/25/2024 for $260,000.

Year leases offer consistent income (less chance of vacancy), and tenants can plan to vacate after a year.

And there was no chance in hell that my investors would not get their money back: I had confidence in my deals and my ability to manage contractors and enough of my own capital as a risk buffer.

Alternatively, I’m considering wholesaling it for a quick $20K, but I’m not sure how to find local investors who can move quickly and close within the bank’s timeframe.I’d appreciate any tips or guidance on whether I’m approaching this the right way, ways I could improve, or how to effectively connect with local investors who could allow me to wholesale this property and make some immediate cash.

I guess the purpose for this is to help fund community improvements and maintenance though it's a bit unusual since HOA fees and property taxes typically cover these.

There is always a chance that rates will drop, but I would imagine $25K would buy down the annual rate so significantly that you would never see a lower rate offered by a bank so you wouldn't even think about refinancing.

Hope you have had a chance to dig in on this website, a lot of great people, investors and overall a great resource to use!  

Generally, tenants don’t have the right to demand relocation for purely cosmetic improvements, nationally. 

We have worked on improving the physical appearance and infrastructure of the park, updating the homes, getting a new sign, advertising it online, and creating a website (www.shadyacreshuntington.com).