Just keeping an open mind in case there is something I'm missing.  

That's the key component that is usually missing when I hear other entrepreneurs/investors say they don't like QBO.Something else to keep in mind is your entity structure and how your entities file tax returns.

Went through extra fast because the developer really had no other good optionsI doubt we'll know the full details for years to come but I'm curious if you have an opinion, or if there's other probable options C,D,E I could be missing as just a public bystander to the situation @Rene Hosman It's very rare that anything gets done quietly behind the scenes.

Am I missing something?

Via form 3115 you can do a depreciation catch up and capture all the missed depreciation that you would have received through a cost segregation study. 

,did I miss something?

If you miss on fence, landscaping, etc, these are small and you can recover. 

However, I also think that a lot of people who set out to pursue this strategy miss the fact that it is literally a lifetime commitment to deferring taxes, which by definition means not realizing the gains.

It's a great property with tons of potential but it's missing the IT factor.

I always plan to have 6 months of holding costs available, for after I finish the flip, just in case I missed the market.If a lot of houses are sitting on the market for a long time, (can't sell) I'd definitely avoid it.