I  ran their subdivision development arm.. 

Based on our research, this seems to be a controversial case with several possible interpretations (below) we want to check with the community about their experience for the same.1.No, as this is a replacement of unit of property” (UOP) explicitly defined by IRS – this is an improvement with 27.5 years lifetime and can be only deprecated.

Unfortunately, there’s nothing in the lease that explicitly says that.

Correct Steve, all IRA transactions must be "arms length" so you have to use unrelated third party for all services. 

It is a 7 year arm in-house financing at 4.75% since it’s an investment property.

I'm in a dilemma as to what to do:1. 2.5% 5/1 ARM with cashout upto 65% LTV - no cost, no points2. 2.5% 10/1 ARM with cashout upto 70% LTV - $14k in cost and points3. 2.625% 10/1 ARM with cashout upto 70% LTV - no cost, no pointsRegd my primary residence - I don't intend to stay here permanently - about 10 years more.With the cashout proceeds - I would like to buy an investment property or two (local, not out-of-state).What would you do, if you were in my shoes?

No strong arming here.

I know in Cincinnati, the auditor's office has a specific form that needs completed to contest taxes and even offers specific evidence you can use to contest them.The easiest way in my experience is if you just bought the property for less than the assessed value, that is your evidence, since it was a recent arms length transaction.Alternatively, hiring an appraiser and full appraisal report is commonly accepted.

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.

We just refinanced into a 7/1 ARM a while back.