If the client is self-employed or they own other real estate, you'll want to ask for a copy of their two most recent Federal tax returns - all pages/schedules (you shouldn't need the state tax returns).   

I’ve never run a boarding house, so I’m not super familiar with how state and/or federal laws would treat that.

A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

It looks to be a true 50/50 split based on square footage, so eventually when you go to sell you will be taking 1/2 of the property and applying the federal tax exclusion under Section 121 and the other half will be treated as a capital asset subject to capital gains.

With the divided Congress that can barely keep the government funded, I have personally given up hope that it will pass.

Government and non-profit organizations are reliable payers because they're accountable for allocated funds, often with strict deadlines to utilize budgets.

The property must be in an area that the government has identified as an Opportunity Zone.You must have short or long term capital gains. 

.- Use cost segregation studies to expedite depreciation of your properties to offset large income gains.Entity Structure- Choose appropriate legal structure (LLC, partnership, or S corporation) with consideration for different tax implications.Tax Credits- Explore available credits, like energy-efficient or historic rehabilitation credits.Qualified Business Income (QBI) Deduction- Check eligibility for QBI deduction, providing up to a 20% deduction on qualified business income.Record Keeping- Keep accurate and organized records for tax compliance and audits.State and Local Taxes- Consider varying state and local tax implications, including property and income tax rates.Tax Planning- Engage in proactive tax planning, consulting with professionals for a comprehensive strategy.Tax Changes- Stay informed about changes in federal, state, and local tax laws affecting real estate investments.Remember to consult a real estate tax professional for personalized advice based on your specific situation.

What most are unaware of is the Federal Law Enforcement Training Center (FLETC) on the mainland in Brunswick.

If this was an issue for the Federal Government line #503 would not be on the HUD1