Prepare for additional costs: If you’re adding units, you’ll likely need to address the water meter situation and possibly upgrade utilities.

As this approach uses very little documentation, it is the least reliable methodology in preparing a cost segregation study.To see all of the steps included within each method, refer to Chapter 3 of the IRS Cost Segregation Audit Techniques Guide.What methodology has your company utilized?

Focus on saving and researching financing while networking with real estate professionals to prepare for your first investment.Dont forget to add tax savings to your ROI for better decision making.This post does not create a CPA-Client relationship.

@Fed Finjap now you're better prepared if you continue to scale and eventually hire a PMC!

Your best advice would come, for a Tax Advisor NOT a Tax Preparer (CPA).

Once the interior was stripped and the infrastructure tested, I brought in commercial contractors to handle critical systems like plumbing, electrical, roofing, and HVAC installation.The house, built in the early 1900s, was originally a coal-burning residence.

Yes. the original lender probably will not but a new lender may- there first question is gonna be what is your exit strategy so be prepared to answer that question.

Run realistic numbers and be prepared for the worst.

That doesn't pass a cursory BS test, and risks the appraiser calling out either fixed plumbing + permits, or a licensed professional remove the bathroom.

Its a quick and easy addendum to prepare.