If you want to change to cost seg allocations in 2023, the 3115 essentially calculates what amount would have been taken in prior years had the cost seg allocation been used for those years, then it backs out what was actually taken to arrive at the catch up amount (called a 481(a) adjustment).

Further, Buyer beware - some of the stuff will not work and you have to plan accordingly.

Sometimes they advertise a 9 cap but then the OM reveals that it's a projection, and they also show the P&L, in which case I'll go off of the in-place P&L to arrive at cap rate, which might be 8%. 

And having been CEO for the last 6 years, and with the company for 10, I have observed some nuance:- The guy with two units in Mississippi sometimes has no debt and has spent 1,000 hours learning, knowing their stuff.

I highly recommend DFW Landlord Services for a lot of this stuff.

This is stuff for men who are both greedy and lazy.

A 23 ga pin nailer used to hang stuff, is almost impossible to see.

I hate dealing with stuff like this.You’re right On the border so could go either way

Lots of fun stuff if you are strategic Jon Bock, CPA/PFS

They really know their stuff