Type of property: 1 professionally built, RV certified tiny house + 1 custom built non-RV certified tiny house + 3500 square foot plot of landLocation of property: Fairplay, CO: Link to viewPurpose of financing: Refinance existing loans + purchase, rehab (if needed) & develop land (simple tree removal + concrete work) for 2nd tiny houseType of financing sought: Private loans.

Generally speaking in partnerships, and in all investments, people are looking for the best risk-adjusted returns.

As I see it... either amend 2023, or do a costseg for 2024 with a 3115 and 481(a) adjustment.

You must generally file Form 3115, Application for Change in Accounting Method, to request a change in your method of accounting for depreciation.The following are examples of a change in method of accounting for depreciation.A change from an impermissible method of determining depreciation for depreciable property if the impermissible method was used in two or more consecutively filed tax returns.A change in the treatment of an asset from nondepreciable to depreciable or vice versa.A change in the depreciation method, period of recovery, or convention of a depreciable asset.A change from not claiming to claiming the special depreciation allowance if you did not make the election to not claim any special allowance.A change from claiming a 50% special depreciation allowance to claiming a 100% special depreciation allowance for qualified property acquired and placed in service by you after September 27, 2017 (if you did not make the election under section 168(k)(10) to claim a 50% special depreciation allowance).Changes in depreciation that are not a change in method of accounting (and may only be made on an amended return) include the following.An adjustment in the useful life of a depreciable asset for which depreciation is determined under section 167.A change in use of an asset in the hands of the same taxpayer.Making a late depreciation election or revoking a timely valid depreciation election (including the election not to deduct the special depreciation allowance).

I had a similar situation with established snow birds renting Dec 15 to March 31 for a price that had not been adjusted for over 5 years.

Hey Bp,I have an adjustable rate heloc that started out with a super low interest rate when we first got it.

This includes as part of the initial design having your Rater develop an energy model that meets or exceeds the requirements and then certifying the final project through an HCO. 

I assumed I could cashflow for 20% or more, so I want to see if I need to adjust my expectations based on the experience of others. 

Are there any alternative strategies or adjustments I should consider? 

Assuming all other things are equal, the quadplex of 1/1s is going to set the floor value and the appraiser will make line item adjustments on value to back into their opinion of the value of your property.