With that said, there is a de minimis election that allows you to expense any capital expenditures under $2,500 ($5,000 if your business has audited financials). 

With the way things are going now, first question I would ask is are you providing audited financial statements and who is your auditor.

What documentation will I need to provide to the IRS in the event there are any audits? 

Three are audits I dealing with right not that the IRS is saying hours before renting out do not count.

Filing incorrectly can lead to more significant issues, and if you get audited or need to amend your taxes, it could end up costing you more.

The corporate veil is a real thing; no need risking law suits or audits if you can use legal structures intended to protect you.

Our firm is primarily made up of EA's (enrolled agents) who specialize exclusively in the study of tax law and representation (basically if you get audited they can defend you in tax court).

My biggest concern with cost seg studies that produce a large rebate is does that flag for audit.

I'd bet any local University has classes applicable to commercial RE investing and management, audit the course instead of attending for a grade, much cheaper

We had to bring on an energy audit firm to test and certify the work before and after construction.Beyond the planning, permitting, and historic reviews, the rest of the project runs as any major renovation projects.