So, normalize those values, the state each year will determine the ratio by which the assessment differ's from today's values.

You have to follow the interest tracing rules to determine the deductibility of interest.

You can determine if the cost segregation study makes sense by speaking with your accountant and many cost segregation professionals offer a free analysis.

He uses rental cars, boats and houses to give him credibility he does not otherwise have as he never shows proof of ownership.

But if you are determined to do so, try to go for turnkey properties on the newer end - less maintenance which is good when you are investing out of state. 

Sullivan recommends the cooperative ownership model as the ideal structure for MHPs what is stopping you from forming either a high or low equity co-op and purchasing the park from SCI?

Quote from @Sofia De Santos Tavarez: Hello, my husband and I are looking to do our first rehab in a different city than where we live (we live in Austin and looking to buy in El Paso), and are wondering how one determines and writes a scope of work and determine what material to buy for what.

I would tend to agree with the other CPAs typically.The 500-hour test is one of seven material participation tests used by the IRS to determine if a taxpayer is actively involved in a trade, business, or rental activity. 

Buildium and Rentprep will also need the video tour, and the home office ownership or lease info if you want to be able to run credit/background checks directly without having the applicant submit and then approve you to receive the data.

Send me a Direct Message so we can determine if we are a good fit to work together and help you flip more properties in the Houston, Texas Area.I have a straight to the point and no BS approach so you will find some values when you reach out.Thank you