Yes, it is possible to get a cost segregation study on a property placed into service in the past.There is potentially a requirement to file form 3115 which basically says that you screwed up the depreciation in the past and are therefore recalculating it.

@James W.You should hire a consultant to perform a market study to outline what would be the best fit for the land.

Studying Zillow over the last month, single story 4-plex are rare to find in the TX markets I've been searching & analyzing.

Look for up-and-coming neighborhoods, study market trends, and network with other investors for advice and insights.

Any study tips, tips for passing, etc.?

I hope Mario can mitigage his losses by selling the property quickly to stop the bleeding, or re-tenant and refinance to less expensive debt but this serves as a case study on the perils of investing in lower tier neighborhoods.The amount of people on the internet and social media selling the false narrative of how easy it is to create wealth through investing in real estate, specifically these lower tier neighborhoods is upsetting. 

Totally agree with Greg's advice above with regard to studying your lease clauses and challenging anything that doesn't seem right. 

A little over a year ago, I wrote a post that received over 10k views. Based on the popularity of the post, I thought it might be worth posting an update, especially because the outcome is quite ironic! Before, I get ...

A new study released by the Bank of America Institute states Columbus is the fastest-growing city in the US - https://www.nbc4i.com/news/local-news/columbus/study-names-c...

I honestly learned th most from studying them in my market.