I have to pay state and county taxes and also do direct bookings, so I found this to be easiest for me to handle each quarter. 

In my opinion, a more moderate quarter-point cut would have signaled confidence in the economy's underlying health.

If the new property has less of either asset class (1245 or 1250) then the difference is subject to tax at the rates mentioned above. 

Also, make sure the management entity’s taxation as a C corporation aligns with your long-term goals.Has anyone here gone through a similar process and have any attorney referrals or tips to share?

The most tax advantageous business types are partnerships and S-corps, for you don't pay income tax at the entity level.

We've been communicating quarterly on the property status, but a simple search on Zillow made me think he's lying to me.

@John CarrI recommend finding an accountant who specializes in real estate taxation and tax planning.

The pref equity would pay out a 7% (annualized) quarterly distribution and a 7% back end return when the pref equity capital is returned.

There are no quarterly reports. 

Installing quarter round trim saved $1k.