Even large and small businesses with intangible residual services like TV, internet, security, pest control or the local contractor with remodels in process could fall behind on payments revenue contract. 

The Annual Owner Statement should break down all the expenses that the owner's tax professional then figures out how to deduct and on what tax schedule.So that way the owner can expense everything throughout the year?   

And if a property is owner occupied, how can you secure a loan with a hard money lender not being able to view the home to estimate repairs?

Securing quotes for properties in flood zones can be challenging and time-consuming (especially if vacant), so it’s unlikely you could have done it quickly.

@Micki Ray HarperBigger Pockets is a great place to find an accountant specializing in real estate taxation.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

Since my adjusted basis is about 50K, am I going to have a $250K gain on my income taxes this year?

You’d also make all future capital gains at least partially taxable instead of tax exempt by converting your primary to a rental.

Your not correct under many different circumstances.First property tax is 1.1% (fairly safe) with 2% annual increase (prop 13).Next expenses include a lot more than property tax and interest. 

For example, in my state PA there is an inheritance tax and many TAX auction properties originate from people passing away and the heir(s) not taking control over the estate and paying those property taxes.

Prices will certainly vary between different tax firms.