Assets identified in this study include:Standard windows and doorsInterior ceilings and wallsBasic plumbing and electrical systemsBuilding structural elementsBasic HVAC componentsThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

Here is a newly created resource on BiggerPockets, which touches out cost segregation, accelerated depreciation, bonus depreciation, depreciation recapture, Real Estate Professional Status (REPS), STR Loophole / STR Strategy, example properties, and more. 

Last thing to consider is if you are buying a new home, will you want to do 100% financing and will you have the remaining bonus entitlement to do so.

This is due to bonus depreciation which allows taxpayers to deduct 40% of qualifying property costs in the first year, in addition to regular depreciation for new construction and improvement.

Quote from @Samuel Kim: Hello i am a doctor who wants to use cost segregation/bonus depreciation on my 9 rental houses, my home maker wife wants to meet the 750hr test to obtain real estate professional status and material participation.

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

@Cate DeBates Triple Net commercial lease is a huge bonus!

My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects. 

There are so many great local coffee shops in Indy to try, that is just a bonus. 

I think that Chat GPT hilariously acknowledges, however, that if this person then goes on to run for governor of Colorado, then, despite their likely lack of time and attention to the money I put into the investment, that they are likely to put up phenomenal returns as a nice bonus of either being in office, or being a threat of attracting any meaningful percentage of the vote in that state before dropping out and endorsing an eventual winner.