Groucho: "Treasury bonds."

If you haven't done a cost segregation study on your rental, STR, MTR, or LTR, you may be leaving money with the US Treasury that you could be using elsewhere to re-invest.

Yes, your tenants are paying a couple hundred dollars of principal every month but you could get a better return with a 2-year Treasury.

For a safe, liquid investment my only regret is the Series I treasury bonds limit you to $10k/person per year (calendar year though, so I could put in $20k in the next 2 months.

While the Department of the Treasury Regulations and numerous rulings make it very clear that the Investor must have the intent to hold his property for rental, investment or use in a trade or business, they fail to define exactly how long an Investor needs to hold his relinquished or replacement property in order to qualify for a tax-deferred like-kind exchange pursuant to Section 1031 of the Internal Revenue Code or Section 1.1031 of the Treasury Regulations.

It's safe to say the Treasury wants to keep us on our toes.Although there have been a few posts on the subject already, I'd like to add my own summary and thoughts on the last item released, which is very pertinent to investors here on BP...Notice 2019-07 notifies taxpayers that the Treasury has issued a proposed Revenue Procedure which gives taxpayers a safe harbor option for a 'trade or business' determination for their rental real estate. 

The rate on this one is floating over treasury and can adjust once per 3 years (there is a max cap).

Eventually, central/treasury bank stepped in and started paying up from its own coffers - not full deposit amount but partial amount with a ceiling of $100k per depositor (most depositors had multiple accounts with aggregate total way over $100k) and that too after 4 years of delay, most larger depositors had to wait even more years to get back small part of their deposits.

Put another way, let's say I got 10k in depreciation tax shield and I put it in a 10 year treasury note yielding 5%.In 10 years, that 10k is now worth $16,222.

The penalties are severe for not doing so, and the Treasury Department has stated they intend to "back look" to the date of required compliance no matter when someone shows up to examine compliance.