Depreciation is utilized to determine the tax deductions that are available for a property, thus improper documentation of depreciation or calculation could result in a significantly larger tax bill for a property owner.If the property owner classifies the entire property as real property, the depreciation schedules are longer and result in lower tax deductions in the short-term than those that utilize a cost segregation study to reclassify specific components to personal property.How a Cost Segregation Study Could HelpA cost segregation study can help property owners identify certain building components that are eligible for accelerated depreciation, thus reducing their tax liability and increasing their available cash flow.

Just make sure you do your due diligence because a lot of turnkeys like to "over-classify" a neighborhood.For example, they might classify a C class neighborhood as B Class.

And then the property could be classified as waterfront.Bottom line: what kind of return am I looking at by putting in a roughly one acre pond?

CheersSome items:I would classify most of Escondido as class C. 

The fact that you can't count your primary residence as part of your net worth in order to be classified as an accredited investor when buying securities is well established.Bill, I realize you're making a very straightforward, wholly uncontroversial point about general accounting principles.

Now that it's classified as an investment property, it no longer can claim homestead exemption and as a result the proposed appraised value jumped off the roof! 

South Lake Tahoe recently passed a ballot measure essentially banning most short term rentals.https://www.rgj.com/story/money/business/2018/12/06/most-airbnb-vacation-home-rentals-banned-south-lake-tahoe/2233124002/ And Laguna Beach just did the same thing:https://www.latimes.com/socal/daily-pilot/news/tn-dpt-me-lb-council-20190505-story.html“We don’t want commercial ‘touristification’ in our residential neighborhood,” said resident Charlotte Masarik.Ok, well that’s not Arizona… but rumblings of similar complaints are happening in Flagstaff as well:https://azdailysun.com/news/local/airbnb-a-boon-for-owners-headache-for-neighbors/article_1abd0fbb-83ee-54d6-96c3-cd753349094f.htmlAnd Phoenix too:https://www.azcentral.com/story/news/local/phoenix/2018/11/30/airbnb-rental-home-closes-shop-after-neighbors-ban-vacation-rentals/2025777002/So let's take a look at what laws regulating short term rentals are already in place.Current Arizona LegislationIn 2017, a law was passed declaring that cities, towns and counties cannot place any restrictions on short-term rental properties just because the property is not classified as a hotel. https://azdailysun.com/news/local/despite-local-objections-new-year-s-laws-include-airbnb-expansion/article_52d485d5-79cd-567f-943c-bff142e9493c.htmlThis law specifically targeted any municipalities that were trying to restrict Airbnb and other online lodging marketplaces from operating in the area.

Hello, I have a question that I need classify on.

It is likely not an issue at all but the issue could more be you living there than someone else, if it is classified as an investment property mortgage. 

in your property, can you be classified a LANDLORD?