@Sam Liu You can be under contract for the replacement but naturally your relinquished property has to close before you can take title of the replacement. 

If you perform a cost segregation study for your short-term rental property, you would typically file Form 3115 (Application for Change in Accounting Method) to claim the depreciation adjustments from the previous year without needing to amend your prior return.

CT requires an Architect (or Engineer) for projects of this nature, especially a building of this age where it's likely there's structural/framing items to address.

I personally am impressed by both Jack and Seth and I know the methods they teach work because several members of my group have had success with raw land investing using these methods as well as methods from the other programs available.

Thats the beauty of the nomad method.

This method provides several advantages against a traditional manager as I can cater my service and fees to the individual needs of my owners. 

You would use Form 3115 (Application for Change in Accounting Method) to change your depreciation method.

They naturally value it at it's cost to them, next to $0. 

2) Is it necessary to take a Real Estate Course, or can someone learn this method of Real Estate Investing on their own, through reading books, doing research and talking to people that have used this method of investing?  

(a) If the Company establishes the title, or removes the alleged defect, lien orencumbrance, or cures the lack of a right of access to or from the land, or curesthe claim of unmarketability of title, or otherwise establishes the lien of the insuredmortgage, all as insured, in a reasonably diligent manner by any method, includinglitigation and the completion of any appeals therefrom, it shall have fully performedits obligations with respect to that matter and shall not be liable for any loss ordamage caused thereby.. . .To the extent that you are requesting compensation for the Alleged Damages, please see Condition8(a) of the Policy which provides the Company with the right to establish title as insured in areasonably diligent manner without being responsible for any loss or damage to the insured.