No improvements have been made, but nothing has deteriorated either.

The plan was to pay cash, refi out and use that to improve the property. 

Every youtube video I find when searching this problem involves someone replacing or moving an electric box that either hasn't been wired yet or is re-wired.

Keep detailed records of income, expenses, and improvements, and choose the right filing approach based on your comfort level with these rules.This post does not create a CPA-Client relationship.

Properties in Henderson, certain parts of North Las Vegas, and adjacent to Summerlin may provide faster rent growth.However, we recommend not using this data for your property search criteria.

I would just search your area and add "real estate investors" or something along the lines of that

You can also check meetup.com or search Facebook for real estate investment groups, clubs, or meetings in your area.

When it comes to real estate, here's a general list of eligible assets and their depreciable lifespans that you should know: Residential Rental Property = 27.5 yearsThis includes any building or structure where 80% or more of its gross rental income is from residential units.That means:- Apartment buildings- Single-family rental homes- Duplexes, triplexes, and quadplexes- Mobile homes (used for residential rental)- Any kind of residential lodging facility where the primary purpose is long-term rentalCommercial Property = 39 yearsThis includes non-residential properties like:-Office buildings-Retail stores and shopping centers-Warehouses-Industrial complexes-Hotels and motels that do not qualify as residential rental propertyLand Improvements = 15 yearsThese include sidewalks, roads, fencing, some landscaping, and parking lots that are separate from the building.Personal Property = 5 or 7 yearsPersonal property used in a rental activity usually has a 5 or 7-year life.This includes most furniture, appliances, carpeting and various machinery.Qualified Improvement Property (QIP) = 15 yearsGenerally, this includes any improvements made to the interior of a non-residential building after the building was placed in service, excluding elevators, enlargements, and the internal structural framework.Computers and Related Peripheral Equipment = 5 yearsVehicles = 5 yearsNote that the land itself is not depreciable.

=)I came across this post while doing a Google search and wanted to chime in.I’m Mark Simpson, founder of Boostly, and I’ve really enjoyed reading through all the comments.

If your current CPA can't provide this type of advice, maybe try the BP pros finder tool (I will post the link below) or hopefully someone will comment here and recommend a real estate CPA that they worked with before.https://www.biggerpockets.com/business/finder/searches/ffd0c...