No, you cannot create phantom losses this way.Some additional issues that we have not addressed:- holding rentals inside an S-corp has many tax disadvantages- you will likely jeopardize your $250k/$500k capital gain exclusion for homesteads- you will lose asset protection afforded to personal residences by most states- you will lose your homestead exemption for local property tax - your insurance will have to change from owner-occupied to rental, i.e. go up- and there's moreConclusion: there're reasons why nobody is doing this clever "strategy" but A+ for trying.

They countered and we met them in the middle at 15% under, and then negotiated an additional $15k off during inspection, so total discount was around $150k off list price/ what they paid in 2022.

Here's an article with additional FAQs on cost segregation studies that you may find helpful.

In addition to Wishing Well Hills, Decatur, Brookwood, and Smyrna/Marietta, you might also look into Powder Springs, Austell, and parts of Douglasville, as they offer more affordable options with solid rental markets.

However, since you live in California, you may still be required to register the LLC there as a 'foreign entity,' which can come with additional costs and regulations.For taxes, California has strict rules on taxing out-of-state income, so you’ll likely need to report your Oregon rental income on both your Oregon and California tax returns.

In addition to your down payment, plan for closing costs (around 2-5% of the purchase price) and set aside at least 3-6 months of expenses for repairs, maintenance, and vacancies.

Feel free to ask me for any additional questions on how the biz of "gurus" works.   

You should always require them to add you to their policy as "additional insured" or "additional interest" and you will be notified if they cancel or change their policy.

FlashlightTape measure/Laser measurePaper/Pen/iPadBinocularsReceptacle testerLevelMarbleDroneRespirator/Face Mask/Eye Protection/GlovesAQI testerWater pressure gaugeThermal cameraEndoscope cameraKnife Good list, in addition in my truck; ohm meter, megger, magnehelic, steel ball, air compressor  generator, plus stuff I'm forgetting

In addition to offering "cash for keys" assure them that they can use you as a referral on their next tenant application, or offer them a short term-2 month lease.