Successful track record is much more important.  

Meritage Homes recorded 13,976 closings, slightly ahead of KB Homewith 13,236.

If a cost segregation study was performed, the accelerated depreciation may further reduce the property’s basis, potentially increasing taxable capital gains when sold.Depreciation recapture will occur when you sell the personal residence, so it’s essential to keep detailed records of all depreciation claimed while the property was used as a rental to ensure accurate tax reporting at that time.This post does not create a CPA-Client relationship.

The lender just records the warranty deed and is the owner of the property.  

I tried to rent one of these buildings for a developer. it was brand new construction, really well done.One after another is was voucher applicants who had criminal records, you had no idea who was actually going to be living there, some were high out of their mind and/or drunk, average credit score was 500, consistent late payments, eviction records, etc.By some miracle I rented one place out to 2 young girls looking to save some money.

We rely on these kinds of records to make decisions.

@Charles Perkins is absolutely correct about "collecting all receipts, properly tracking all income and expenses and your basis for all assets properly documented and recorded."

(Then we’d just start a commune, I guess.)The Setup: Living My Best (Small) LifeI bought a 2BD/1BA home with a private efficiency studio.

If you have no track record that would probably what you would have to do.

Land Basis for Condos – Typically determined using county assessor records or HOA allocation.3.