Do you believe it will now be more cost effective to hold a license or do you believe the expenses will go up with what I assume will be a flight from the business by low producing real estate agents? 

Is this normal cost or high?

During this renovation period would you, as the lender, want an Actual Cash Value or Full Repair Cost policy in place?

In a previous post, I discussed the difference in each of the most common cost segregation study approaches.

The costs are just ridiculous though. 

Will a Cost-Seg offset the LTCG on these index funds? 

You should split the costs - labor and materials together.

Agree it is difficult to assess costs when they vary so much by location.Keep in mind that some turnovers are sickenly expensive, and that is just the nature of the business. 

If so, you can add the value to your property more effectively.

If you no longer have business operations in the old state, forming a new LLC in the new state and dissolving the old one may simplify compliance and tax obligations.Some states impose franchise taxes and annual fees that could make one option more cost-effective than the other.