While the IRS does not mandate a physical site visit, the IRS cost segregation audit technique guide (ATG) does suggest conducting “field inspections.”It’s important to note that the ATG is not an official IRS document.It serves as a guide and cannot be used, cited, or relied upon as an authoritative source.However, the recommendations in the ATG are worth considering.According to the guide: “A field inspection is recommended to document the physical details of the building, type of construction, materials used for construction, the assets contained in the building, the size and types of building systems, and any land improvements that were included in the purchase of the property and the condition of that property at the time of purchase.”So while the IRS does not require a site visit for cost segregation studies, following the guidance from the cost segregation audit technique guide can be beneficial.

Now enjoying "retirement" he loves to assist other new and seasoned investors down the path of financial independence through real estate investing.The Thursday meetup is quite similar and consists of several local investors who can attend when they are free. 

Distressed commercial assets, as most good real estate, come from building relationships over years, not from buying a program, getting a good SMS system, and making a flowchart on how to be the best.You are  trying to skip the steps that all long-term investors have mastered, knowing other investors and leveraging deal flow between each other because the trust is there.

Once you decide on a specific market, you will want to narrow you search down to specific zip codes and asset classes.

No auto-generated financial reporting, but owners can generate their own reports through their portals.

Also, @Joshua Stanton, how do you protect yourself/assets if you can not deed the property into an LLC? 

Land assets have 3x-ed in last 2-3 years.

FHA loans with low down payments are ideal for this.In the meantime, focus on improving your credit score and maintaining a solid financial foundation.

Don't spend time focusing on buying your first property, spend time setting yourself up financially so you can succeed in the future. 

Ensure it cash flows comfortably.Market & Location: Research local rental demand, property values, and any applicable LTR regulations to understand the area’s potential for long-term success.Future Potential: Consider if the property could appreciate or attract quality tenants over time, supporting stable cash flow and asset growth.This checklist should set you up for a solid LTR investment!