Assets identified in this study include:Building Systems: plumbing, HVAC and electrical distributionInterior Construction: flooring, drywall partitions and ceilingsStructural Components: doors, roofing, windows and wallsPermanent Fixtures: emergency lighting, restroom fixtures and signageThis engineering-based cost segregation study included the following methodology:Physical Inspection through a site visitDocumentation review including architectural plans, accounting records and construction documentsA cost analysis which utilizes engineering principles in order to allocate costs to their applicable asset classificationsCalculation of the depreciation schedule using MACRSAs a reminder, bonus depreciation started to phase out in 2023.

They do everything from framing, trim, painting, roofing, siding, flooring, cabinets, etc. and they can tell you when the plumber or electrician didn't show or did something wrong.

Could be a new roof, HVAC system, or new kitchen along the way (all of which could certainly add equity to the home irrespective of the year it was built).  

In California, an unlicensed professional cannot independently let a client into a home to show it; only a licensed real estate agent can conduct property showings, although an unlicensed assistant may be present to let someone in under the supervision of a licensed agent for specific purposes like inspections or repairs, but cannot discuss the property details or engage in sales activitiesPaying agents hourly would drive your overhead through the roof especially if the brokerage is not closing deals!!!

At one time they were trying to figure out how  to finance a $10,000,000 roofing and siding project but got bogged down with attorneys and all the mess that goes along with a project that size.

We've owned them for 20-plus years but the recent property tax increases have negatively impacted our cash flow as have major repairs such as roof replacements, AC units, etc.

Figure that out and you'll have a roof over your head that pays for itself while you accelerate savings and repeat in 1-2 years.

Quote from @Mary Jay: Quote from @Owen Rosen: Quote from @Mary Jay: Hi guys, so I had a neighbors tree fall on the roof of my rental.

Before listing it, I had lots of expenses, including painting, floor refinishing, plumbing repairs, staging, cleaning, etc.In a 1031 exchange, I purchased two small multifamily homes which also have some roof work, painting, plumbing, etc. 

Get a list of recent inspections and permits to make sure the new roof and such were done right.Check with police if any reports for the property.What's included in the seller's expenses?