NO, Also the property you purchased is NOT in Bedford or Bedford Hights, 

I've identified a piece of land that is off market and able to be purchased, roughly 40 acres.

Once I get better at purchasing and adding to my portfolio, I know I will have the knowledge to be able to survive without needing the benefits of cost segregation.

I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.

@Joe Gellenbeck Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

.: @Chris Berry Yes, it was purchased from CR of Maryland.

But with that purchase, I bought it with $50k equity in the deal.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

I understand the concept insofar as if I'd purchased the property, the basis would be what I'd paid it.

I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.