BTW, the rental property is cash flow positive.Bob,My firm's managing partner wrote the IRS guidelines for cost segregation, so I've got some insights for you.

The IRS generally does not allow you to deduct expenses for a property that has not been placed into service, as deductions typically apply to operational properties actively being used to produce income.

Selling makes agents money and the IRS if you don''t 1031, it's almost always better to re-leverage instead.

Would it be to forward to ask if anyone would be willing to hop on a zoom call?

Just read the threads on all the syndication that have stopped interest payments.. or MF syndication deals that have been lost to foreclosure and the investors 100% wiped out and also have to repay IRS for depreciation recapture.. this stuff happens this is not some Huge deal that only Norada is experiencing its running right through the industry right now.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

Use IRS instructions to understand the definitions.

If the property is in your personal name you might consider filing the income and expenses from the rental on your personal tax return on IRS Schedule E, not through the LLC. 

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

You will receive a report as a result of the cost segregation study that supports the breakout between asset classes and new depreciation schedule in the event that you are audited by the IRS.