If the proper reports and documentation are not completed, you run the risk of failing an IRS audit and the cost segregation not being honored.

This allows for proper retirement of assets.If a property has already been sold it may still be a good candidate for cost segregation as long as you sold the building and have not filed the tax return.

Proper documentation ensures you’re prepared to substantiate your claims.Federal REP or STR material participation allows you to deduct rental losses against active income, significantly reducing your tax liability.

North side Chicago I have never even had to give a tenant a late fee and none of the tenants I have placed for clients have ever given them issues either, properly picked people pay like clockwork on autopay.

Obviously each deal is unique and requires proper due diligence. 

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

If things get tricky, consulting a local attorney experienced in landlord-tenant issues can help you handle the situation properly.

Secondly, calendar and email functions/apps on computers and smartphones provide great records and a log.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Other CPAs and firms have quoted me 5k-10k+ but are no where near as responsive and personable as my current CPA and accountant.You are going about this properly.